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Spectrum Pharmac Bearish Moving Average Crossover Alert (SPPI)

By Nick Russo

Today, shares of Spectrum Pharmac (NASDAQ:SPPI) have fallen below their 10-day MA of $19.86 on a volume of 354K 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, Spectrum Pharmac share prices have been bracketed by a low of $6.33 and a high of $23.50 and are now at $19.52, 208% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.0%.

SmarTrend recommended that subscribers consider buying shares of Spectrum Pharmac on April 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.11. Since that recommendation, shares of Spectrum Pharmac have risen 4.7%. We continue to monitor SPPI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses spectrum pharmac

Ticker(s): SPPI