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

By David Diaz

Seattle Genetics (NASDAQ:SGEN) shares have crossed bearishly below their 10-day moving average of $51.72 on a volume of 155K 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, Seattle Genetics share prices have been bracketed by a low of $35.93 and a high of $75.36 and are now at $51.28, 43% above that low price. The 200-day and 50-day moving averages have moved 0.82% lower and 1.00% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Seattle Genetics on March 21st, 2018 by issuing a Downtrend alert when the shares were trading at $54.30. Since that call, shares of Seattle Genetics have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses seattle genetics

Ticker(s): SGEN