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Cirrus Logic Inc Rises 1.19% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Cirrus Logic Inc (NASDAQ:CRUS) traded in a range yesterday that spanned from a low of $55.51 to a high of $56.49. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $56.03 on volume of 261,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Cirrus Logic Inc have traded between a low of $31.25 and a high of $60.00 and are now at $55.81, which is 79% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 0.7%.

SmarTrend recommended that subscribers consider buying shares of Cirrus Logic Inc on June 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.51. Since that recommendation, shares of Cirrus Logic Inc have risen 36.6%. We continue to monitor CRUS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cirrus logic inc

Ticker(s): CRUS