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After Yesterday's Decline of 3.00%, Ellie Mae Inc Offers Investors Better Value

By Shiri Gupta

Ellie Mae Inc (NYSE:ELLI) traded in a range yesterday that spanned from a low of $101.25 to a high of $107.06. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $103.98 on volume of 615,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Ellie Mae Inc and will alert subscribers who have ELLI in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Ellie Mae Inc has traded in a range of $79.71 to $116.90 and is now at $102.80, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

Keywords: rebounders ellie mae inc

Ticker(s): ELLI