• Return to Headlines

iShares Nasdaq Biotechnology Index Crosses Below its 10-day MA (IBB)

By David Diaz

iShares Nasdaq Biotechnology Index (AMEX:IBB) shares have crossed bearishly below their 10-day moving average of $293.46 on a volume of 222K 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 $292.09 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has remained constant.

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 4.5%. 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