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After Yesterday's Rally of 1.55% Shares Could Potentially Pullback

By Amy Schwartz

Ubiquiti Network (NASDAQ:UBNT) traded in a range yesterday that spanned from a low of $146.43 to a high of $150.16. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $146.06 on volume of 326,000 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 $150.16 and a 52-week low of $66.73 and are now trading 121% above that low price at $147.20 per share. The 200-day and 50-day moving averages have moved 0.88% higher and 1.88% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Ubiquiti Network on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $103.62. Since that recommendation, shares of Ubiquiti Network have risen 39.9%. 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