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After Yesterday's Rally of 1.83% Shares Could Potentially Pullback

By Nick Russo

Analog Devices (NASDAQ:ADI) traded in a range yesterday that spanned from a low of $91.20 to a high of $93.00. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $91.15 on volume of 785,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Analog Devices has traded in a range of $52.17 to $98.38 and is now at $92.38, 77% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.

Keywords: rebounders Analog Devices

Ticker(s): ADI