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After Yesterday's Rally of 11.66% Shares Could Potentially Pullback

By Amy Schwartz

Applied Optoelec (NASDAQ:AAOI) traded in a range yesterday that spanned from a low of $17.95 to a high of $22.83. Yesterday, the shares gained 11.7%, which took the trading range above the 3-day high of $20.46 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Applied Optoelec on September 6th, 2018 by issuing a Downtrend alert when the shares were trading at $33.29. Since that call, shares of Applied Optoelec have fallen 41.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Applied Optoelec share prices have been bracketed by a current low of $17.95 and a high of $50.30 and are now at $21.87. The 200-day and 50-day moving averages have moved 0.66% lower and 4.82% lower over the past week, respectively.

Keywords: rebounders applied optoelec

Ticker(s): AAOI