Roche Holding (NASDAQ:RHHBY) crossed under its 10-day moving average of $60.52 on a volume of 200K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
There is potential upside of 0.0% for shares of Roche Holding based on a current price of $60.32 and an average consensus analyst price target of $60.32. The stock should find initial support at its 50-day moving average (MA) of $57.57 and further support at its 200-day MA of $50.27.
Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, and respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system.
In the past 52 weeks, Roche Holding share prices have been bracketed by a low of $36.62 and a high of $62.45 and are now at $60.32, 65% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.6%.