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Mallinckrodt Bullish Moving Average Crossover Alert (MNK)

By Shiri Gupta

Today, shares of Mallinckrodt (NYSE:MNK) have crossed bullishly above their 10-day moving average of $36.43 on a volume of 225K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Mallinckrodt share prices have been bracketed by a low of $35.04 and a high of $85.83 and are now at $36.91, 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mallinckrodt on August 3rd, 2017 by issuing a Downtrend alert when the shares were trading at $42.34. Since that call, shares of Mallinckrodt have fallen 14.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses mallinckrodt

Ticker(s): MNK