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After Yesterday's Rally of 2.17% Shares Could Potentially Pullback

By James Quinn

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $51.18 to a high of $52.84. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $51.81 on volume of 529,000 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 monitoring the recent change of momentum in Lumentum Hol. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lumentum Hol in search of a potential trend change.

In the past 52 weeks, Lumentum Hol share prices have been bracketed by a low of $37.00 and a high of $63.95 and are now at $51.85, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1%.

Keywords: rebounders lumentum hol

Ticker(s): LITE