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After Yesterday's Rally of 15.82% Shares Could Potentially Pullback

By James Quinn

Abaxis Inc (NASDAQ:ABAX) traded in a range yesterday that spanned from a low of $82.19 to a high of $83.24. Yesterday, the shares gained 15.8%, which took the trading range above the 3-day high of $72.95 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Abaxis Inc share prices have moved between a 52-week high of $83.24 and a 52-week low of $43.57 and are now trading 91% above that low price at $83.09 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.9%.

SmarTrend is tracking the current trend status for Abaxis Inc and will alert subscribers who have ABAX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders abaxis inc

Ticker(s): ABAX