Today, shares of Hologic (NASDAQ:HOLX) have crossed bearishly below their 10-day moving average of $40.13 on a volume of 1.8 million 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.
Hologic has overhead space with shares priced $40.03, or 5.9% below the average consensus analyst price target of $42.54. The stock should discover initial support at its 50-day moving average (MA) of $38.03 and subsequent support at its 200-day MA of $32.02.
Hologic, Inc. develops, manufactures, and markets x-ray systems. The Company makes x-ray bone densitometers that measure the precise bone density for use in the diagnosing of metabolic bone diseases such as osteoporosis.
Over the past year, Hologic has traded in a range of $20.24 to $42.48 and is now at $40.03, 98% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.4%.