After Yesterday's Rally of 1.42% Shares Could Potentially Pullback
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.
Analog Devices share prices have moved between a 52-week high of $68.97 and a 52-week low of $47.24 and are now trading 38% above that low price at $65.00 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.2%.
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