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After Yesterday's Rally of 4.91% Shares Could Potentially Pullback

By Shiri Gupta

Ii-Vi Inc (NASDAQ:IIVI) traded in a range yesterday that spanned from a low of $42.08 to a high of $44.40. Yesterday, the shares gained 4.9%, which took the trading range above the 3-day high of $42.45 on volume of 835,000 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, Ii-Vi Inc has traded in a range of $17.76 to $53.08 and is now at $43.50, 145% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is monitoring the recent change of momentum in Ii-Vi Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ii-Vi Inc in search of a potential trend change.

Keywords: rebounders ii-vi inc

Ticker(s): IIVI