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After Yesterday's Rally of 6.48% Shares Could Potentially Pullback

By Shiri Gupta

Exelixis (NASDAQ:EXEL) traded in a range yesterday that spanned from a low of $21.82 to a high of $23.40. Yesterday, the shares gained 6.5%, which took the trading range above the 3-day high of $23.23 on volume of 3.1 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, Exelixis has traded in a range of $2.45 to $23.49 and is now at $23.20, 847% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Exelixis on January 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.15. Since that recommendation, shares of Exelixis have risen 19.5%. We continue to monitor EXEL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders exelixis

Ticker(s): EXEL