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Applied Optoelec Falls 4.19% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Applied Optoelec (NASDAQ:AAOI) traded in a range yesterday that spanned from a low of $56.30 to a high of $59.00. Yesterday, the shares fell 4.2%, which took the trading range below the 3-day low of $58.40 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Applied Optoelec have traded between a low of $9.07 and a high of $103.41 and are now at $56.51, which is 523% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Applied Optoelec on August 4th, 2017 by issuing a Downtrend alert when the shares were trading at $69.70. Since that call, shares of Applied Optoelec have fallen 15.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders applied optoelec

Ticker(s): AAOI