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

By Nick Russo

Verisign Inc (NASDAQ:VRSN) traded in a range yesterday that spanned from a low of $94.31 to a high of $96.15. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $95.76 on volume of 299,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Verisign Inc share prices have been bracketed by a low of $74.01 and a high of $96.09 and are now at $96.07, 30% above that low price. The 200-day and 50-day moving averages have moved 0.53% higher and 0.32% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Verisign Inc on January 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.51. Since that recommendation, shares of Verisign Inc have risen 15.8%. We continue to monitor VRSN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders verisign inc

Ticker(s): VRSN