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After Yesterday's Rally of 3.64% Shares Could Potentially Pullback

By Nick Russo

Abiomed Inc (NASDAQ:ABMD) traded in a range yesterday that spanned from a low of $333.88 to a high of $352.45. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $339.69 on volume of 340,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Abiomed Inc on October 8th, 2018 by issuing a Downtrend alert when the shares were trading at $401.97. Since that call, shares of Abiomed Inc have fallen 17.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Abiomed Inc share prices have been bracketed by a low of $177.40 and a high of $459.75 and are now at $343.34, 94% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 0.6%.

Keywords: rebounders abiomed inc

Ticker(s): ABMD