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After Yesterday's Rally of 3.45% Shares Could Potentially Pullback

By Amy Schwartz

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $51.51 to a high of $53.66. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $51.96 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Lumentum Hol has traded in a range of $37.00 to $74.40 and is now at $53.19, 44% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Lumentum Hol on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.73. Since that recommendation, shares of Lumentum Hol have risen 12.3%. We continue to monitor LITE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lumentum hol

Ticker(s): LITE