After Yesterday's Rally of 1.58% Shares Could Potentially Pullback
Cavium Networks (NASDAQ:CAVM) traded in a range yesterday that spanned from a low of $40.63 to a high of $41.90. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $41.67 on volume of 823,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Cavium Networks on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $45.99. Since that call, shares of Cavium Networks have fallen 10.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Cavium Networks has traded in a range of $35.90 to $77.42 and is now at $41.82, 16% above that low. The 200-day and 50-day moving averages have moved 0.51% lower and 1.31% lower over the past week, respectively.
Keywords: rebounders Cavium Networks