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After Yesterday's Rally of 6.91% Shares Could Potentially Pullback

By David Diaz

Harmonic Inc (NASDAQ:HLIT) traded in a range yesterday that spanned from a low of $6.48 to a high of $7.25. Yesterday, the shares gained 6.9%, which took the trading range above the 3-day high of $6.81 on volume of 4.0 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, Harmonic Inc has traded in a range of $4.48 to $8.09 and is now at $7.14, 59% above that low. The 200-day and 50-day moving averages have moved 0.20% higher and 1.18% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Harmonic Inc on July 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.86. Since that recommendation, shares of Harmonic Inc have risen 13.7%. We continue to monitor HLIT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders harmonic inc

Ticker(s): HLIT