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Medicines Comp Crosses Above its 10-day MA (MDCO)

By Shiri Gupta

Medicines Comp (NASDAQ:MDCO) crossed over its 10-day moving average of $48.29 on a volume of 2.3 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Medicines Comp share prices have moved between a 52-week high of $50.68 and a 52-week low of $16.69 and are now trading 204% above that low price at $50.68 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Medicines Comp on August 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.20. Since that recommendation, shares of Medicines Comp have risen 33.9%. We continue to monitor MDCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses medicines comp

Ticker(s): MDCO