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iShares Nasdaq Biotechnology Index Bearish Moving Average Crossover Alert (IBB)

By Nick Russo

iShares Nasdaq Biotechnology Index (AMEX:IBB) shares have crossed bearishly below their 10-day moving average of $294.10 on a volume of 380K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

iShares Nasdaq Biotechnology Index share prices have moved between a 52-week high of $400.79 and a 52-week low of $240.03 and are now trading 22% above that low price at $293.54 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for iShares Nasdaq Biotechnology Index and will alert subscribers who have IBB in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses amex:ibb ishares nasdaq biotechnology index

Ticker(s): IBB