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SPDR S&P Biotech ETF Crosses Above its 10-day MA (XBI)

By Shiri Gupta

SPDR S&P Biotech ETF (AMEX:XBI) crossed over its 10-day moving average of $62.30 on a volume of 2.2 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 $62.94, which is 43% above that low price. Over the last five market days, 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 12.8%. 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