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After Yesterday's Decline of 2.77%, Applied Optoelec Offers Investors Better Value

By Nick Russo

Applied Optoelec (NASDAQ:AAOI) traded in a range yesterday that spanned from a low of $9.23 to a high of $9.93. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $9.74 on volume of 494,000 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 Applied Optoelec have traded between the current low of $9.23 and a high of $50.30 and are now at $9.47. The 200-day and 50-day moving averages have moved 2.65% lower and 2.17% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Applied Optoelec on February 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $14.20. Since that call, shares of Applied Optoelec have fallen 31.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders applied optoelec

Ticker(s): AAOI