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Medicines Co Bearish Moving Average Crossover Alert (MDCO)

By David Diaz

Medicines Co (NASDAQ:MDCO) crossed under its 10-day moving average of $51.21 on a volume of 6.9 million shares. This may provide swing traders with an opportunity 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 $55.28 and is now at $41.93, 240% 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 January 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.39. Since that recommendation, shares of Medicines Co have risen 40.6%. 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