iShares Nasdaq Biotechnology Index Crosses Below its 10-day MA (IBB)
Today, shares of iShares Nasdaq Biotechnology Index (AMEX:IBB) have fallen below their 10-day MA of $293.69 on a volume of 285K 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 21% above that low price at $290.90 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 July 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $262.36. Since that recommendation, shares of iShares Nasdaq Biotechnology Index have risen 12.3%. 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