IPG Photonics Crosses Below its 10-day MA (IPGP)
IPG Photonics (NASDAQ:IPGP) crossed under its 10-day moving average of $97.73 on a volume of 630K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
IPG Photonics share prices have moved between a 52-week high of $102.87 and a 52-week low of $60.31 and are now trading 45% above that low price at $87.50 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of IPG Photonics on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $83.60. Since that recommendation, shares of IPG Photonics have risen 22.8%. We continue to monitor IPGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ipg photonics