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Medicines Co Bearish Moving Average Crossover Alert (MDCO)

By Nick Russo

Medicines Co (NASDAQ:MDCO) shares have crossed bearishly below their 10-day moving average of $39.04 on a volume of 390K 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.

Over the past year, Medicines Co has traded in a range of $12.33 to $43.79 and is now at $38.67, 214% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 0.47% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Medicines Co on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.70. Since that recommendation, shares of Medicines Co have risen 9.4%. We continue to monitor MDCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses medicines co

Ticker(s): MDCO