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After Yesterday's Rally of 3.49% Shares Could Potentially Pullback

By David Diaz

Endologix (NASDAQ:ELGX) traded in a range yesterday that spanned from a low of $12.33 to a high of $12.93. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $12.59 on volume of 979,000 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 Endologix have traded between a low of $6.51 and a high of $18.07 and are now at $12.84, which is 97% above that low price. The 200-day and 50-day moving averages have moved 0.62% lower and 3.16% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Endologix on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.78. Since that recommendation, shares of Endologix have risen 40.3%. We continue to monitor ELGX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders endologix

Ticker(s): ELGX