iShares Nasdaq Biotechnology Index Bullish Moving Average Crossover Alert (IBB)
iShares Nasdaq Biotechnology Index (AMEX:IBB) crossed over its 10-day moving average of $259.25 on a volume of 226K shares. This may provide swing traders with 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 9% above that low price at $262.33 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 recommended that its subscribers protect gains by selling shares of iShares Nasdaq Biotechnology Index on May 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $267.93. Since that call, shares of iShares Nasdaq Biotechnology Index have fallen 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses amex:ibb ishares nasdaq biotechnology index