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Silicon Motion Technology Bearish Moving Average Crossover Alert (SIMO)

By David Diaz

Silicon Motion Technology (NASDAQ:SIMO) shares have crossed bearishly below their 10-day moving average of $53.45 on a volume of 664K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Silicon Motion Technology have traded between a low of $20.01 and a high of $56.21 and are now at $50.88, which is 154% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Silicon Motion Technology on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.28. Since that recommendation, shares of Silicon Motion Technology have risen 72.2%. We continue to monitor SIMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses silicon motion technology

Ticker(s): SIMO