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Ligand Pharmaceuticals Bearish Moving Average Crossover Alert (LGND)

By Amy Schwartz

Ligand Pharmaceuticals (NASDAQ:LGND) crossed under its 10-day moving average of $112.66 on a volume of 134K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Ligand Pharmaceuticals share prices have been bracketed by a low of $71.63 and a high of $139.79 and are now at $111.89, 56% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.1%.

SmarTrend recommended that subscribers consider buying shares of Ligand Pharmaceuticals on March 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $108.63. Since that recommendation, shares of Ligand Pharmaceuticals have risen 6.0%. We continue to monitor LGND for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ligand pharmaceuticals

Ticker(s): LGND