After Yesterday's Rally of 1.28% Shares Could Potentially Pullback
Cypress Semiconductor (NYSE:CY) traded in a range yesterday that spanned from a low of $11.70 to a high of $12.36. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $11.80 on volume of 10.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Cypress Semiconductor have traded between a low of $6.30 and a high of $14.19 and are now at $11.91, which is 89% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of Cypress Semiconductor on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.82. Since that recommendation, shares of Cypress Semiconductor have risen 8.0%. We continue to monitor CY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders cypress semiconductor