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After Yesterday's Rally of 1.22% Shares Could Potentially Pullback

By Amy Schwartz

Seagate Technology (NASDAQ:STX) traded in a range yesterday that spanned from a low of $31.90 to a high of $32.75. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $32.38 on volume of 1.5 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 subscribers consider buying shares of Seagate Technology on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.10. Since that recommendation, shares of Seagate Technology have risen 44.8%. We continue to monitor STX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Seagate Technology has traded in a range of $18.42 to $59.86 and is now at $32.49, 76% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 2.8%.

Keywords: rebounders Seagate Technology

Ticker(s): STX