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Analog Devices Falls 2.90% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Analog Devices (NASDAQ:ADI) traded in a range yesterday that spanned from a low of $94.08 to a high of $96.71. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $97.45 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Analog Devices share prices have moved between a 52-week high of $103.59 and a 52-week low of $76.41 and are now trading 24% above that low price at $94.54 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Analog Devices and will alert subscribers who have ADI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Analog Devices

Ticker(s): ADI