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

By James Quinn

iShares Nasdaq Biotechnology Index (AMEX:IBB) shares have crossed bullishly above their 10-day moving average of $291.98 on a volume of 154K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher 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 $292.17 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.9%.

SmarTrend recommended that subscribers consider buying shares of iShares Nasdaq Biotechnology Index on January 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $282.60. Since that recommendation, shares of iShares Nasdaq Biotechnology Index have risen 3.1%. We continue to monitor IBB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:ibb ishares nasdaq biotechnology index

Ticker(s): IBB