ResMed Bearish Moving Average Crossover Alert (RMD)
Today, shares of ResMed (NYSE:RMD) have fallen below their 10-day MA of $65.61 on a volume of 212K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, ResMed has traded in a range of $48.99 to $66.62 and is now at $65.39, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of ResMed on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.83. Since that recommendation, shares of ResMed have risen 12.1%. We continue to monitor RMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses resmed