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SPDR S&P Biotech ETF Bullish Moving Average Crossover Alert (XBI)

By Nick Russo

Today, shares of SPDR S&P Biotech ETF (AMEX:XBI) have crossed bullishly above their 10-day moving average of $62.97 on a volume of 1.2 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of SPDR S&P Biotech ETF have traded between a low of $44.16 and a high of $91.11 and are now at $63.26, which is 43% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of SPDR S&P Biotech ETF on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.84. Since that recommendation, shares of SPDR S&P Biotech ETF have risen 14.0%. We continue to monitor XBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:xbi spdr s&p biotech etf

Ticker(s): XBI