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Seattle Genetics Crosses Below its 10-day MA (SGEN)

By Amy Schwartz

Seattle Genetics (NASDAQ:SGEN) crossed under its 10-day moving average of $38.83 on a volume of 220K 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, shares of Seattle Genetics have traded between a low of $26.02 and a high of $52.33 and are now at $38.18, which is 47% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of Seattle Genetics on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.08. Since that recommendation, shares of Seattle Genetics have risen 25.8%. We continue to monitor SGEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses seattle genetics

Ticker(s): SGEN