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After Yesterday's Decline of 1.32%, Proofpoint Inc Offers Investors Better Value

By Nick Russo

Proofpoint Inc (NASDAQ:PFPT) traded in a range yesterday that spanned from a low of $112.52 to a high of $115.60. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $112.79 on volume of 186,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Proofpoint Inc have traded between a low of $82.60 and a high of $130.27 and are now at $113.15, which is 37% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Proofpoint Inc on July 25th, 2018 by issuing a Downtrend alert when the shares were trading at $122.62. Since that call, shares of Proofpoint Inc have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders proofpoint inc

Ticker(s): PFPT