ResMed Crosses Below its 10-day MA (RMD)
ResMed (NYSE:RMD) crossed under its 10-day moving average of $70.01 on a volume of 329K 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.
In the past 52 weeks, ResMed share prices have been bracketed by a low of $48.99 and a high of $70.90 and are now at $69.43, 42% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.
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 20.0%. We continue to monitor RMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses resmed