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After Yesterday's Rally of 2.21% Shares Could Potentially Pullback

By Amy Schwartz

Ormat Technologi (NYSE:ORA) traded in a range yesterday that spanned from a low of $57.01 to a high of $57.92. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $57.38 on volume of 81,000 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, shares of Ormat Technologi have traded between a low of $41.12 and a high of $70.68 and are now at $57.81, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ormat Technologi on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $66.61. Since that call, shares of Ormat Technologi have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders ormat technologi

Ticker(s): ORA