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After Yesterday's Rally of 4.60% Shares Could Potentially Pullback

By David Diaz

Applied Optoelec (NASDAQ:AAOI) traded in a range yesterday that spanned from a low of $90.60 to a high of $97.75. Yesterday, the shares gained 4.6%, which took the trading range above the 3-day high of $95.67 on volume of 4.6 million 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 Applied Optoelec. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Applied Optoelec in search of a potential trend change.

Over the past year, Applied Optoelec has traded in a range of $9.07 to $97.75 and is now at $93.62, 932% above that low. The 200-day and 50-day moving averages have moved 0.94% lower and 2.79% lower over the past week, respectively.

Keywords: rebounders applied optoelec

Ticker(s): AAOI