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Aerohive Network Set to Possibly Pullback After Yesterday's Rally of 39.18%

By David Diaz

Aerohive Network (NYSE:HIVE) traded in a range yesterday that spanned from a low of $3.13 to a high of $4.47. Yesterday, the shares gained 39.2%, which took the trading range above the 3-day high of $3.29 on volume of 16.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Aerohive Network share prices have been bracketed by a low of $3.12 and a high of $5.18 and are now at $4.44, 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Aerohive Network on March 8th, 2019 by issuing a Downtrend alert when the shares were trading at $4.37. Since that call, shares of Aerohive Network have fallen 27.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders aerohive network

Ticker(s): HIVE