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After Yesterday's Rally of 1.42% Shares Could Potentially Pullback

By James Quinn

Analog Devices (NYSE:ADI) traded in a range yesterday that spanned from a low of $64.24 to a high of $65.15. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $64.36 on volume of 712,000 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 Analog Devices have traded between a low of $47.24 and a high of $68.97 and are now at $65.00, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.59% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Analog Devices on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.20. Since that recommendation, shares of Analog Devices have risen 10.4%. We continue to monitor ADI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Analog Devices

Ticker(s): ADI