• Return to Headlines

Boingo Wireless Rises 2.20% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Boingo Wireless (NASDAQ:WIFI) traded in a range yesterday that spanned from a low of $18.73 to a high of $19.24. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $18.78 on volume of 187,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Boingo Wireless share prices have moved between a 52-week high of $35.98 and a 52-week low of $17.14 and are now trading 12% above that low price at $19.22 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Boingo Wireless on May 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $22.49. Since that call, shares of Boingo Wireless have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders boingo wireless

Ticker(s): WIFI