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After Yesterday's Rally of 1.32% Shares Could Potentially Pullback

By Shiri Gupta

Citrix Systems (NASDAQ:CTXS) traded in a range yesterday that spanned from a low of $83.20 to a high of $85.00. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $83.38 on volume of 781,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Citrix Systems has traded in a range of $60.91 to $90.00 and is now at $84.27, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Citrix Systems on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.82. Since that recommendation, shares of Citrix Systems have risen 22.7%. We continue to monitor CTXS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Citrix Systems

Ticker(s): CTXS