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After Yesterday's Rally of 1.27% Shares Could Potentially Pullback

By Nick Russo

Ubiquiti Network (NASDAQ:UBNT) traded in a range yesterday that spanned from a low of $69.22 to a high of $71.03. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $70.15 on volume of 171,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Ubiquiti Network share prices have moved between a 52-week high of $71.03 and a 52-week low of $36.13 and are now trading 95% above that low price at $70.46 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Ubiquiti Network on October 16th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.76. Since that recommendation, shares of Ubiquiti Network have risen 17.0%. We continue to monitor UBNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ubiquiti network

Ticker(s): UBNT