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After Yesterday's Rally of 19.41% Shares Could Potentially Pullback

By Shiri Gupta

Gogo Inc (NASDAQ:GOGO) traded in a range yesterday that spanned from a low of $6.49 to a high of $6.89. Yesterday, the shares gained 19.4%, which took the trading range above the 3-day high of $6.84 on volume of 1.2 million 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, Gogo Inc share prices have been bracketed by a low of $2.64 and a high of $7.82 and are now at $6.52, 147% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.5% while the 200-day MA has risen 1.0%.

SmarTrend is monitoring the recent change of momentum in Gogo Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Gogo Inc in search of a potential trend change.

Keywords: rebounders gogo inc

Ticker(s): GOGO