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Finisar Corp Set to Possibly Rebound After Yesterday's Selloff of 4.27%

By Amy Schwartz

Finisar Corp (NASDAQ:FNSR) traded in a range yesterday that spanned from a low of $22.19 to a high of $22.97. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $23.06 on volume of 2.1 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, Finisar Corp share prices have been bracketed by a low of $16.73 and a high of $36.85 and are now at $22.25, 33% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Finisar Corp on August 7th, 2017 by issuing a Downtrend alert when the shares were trading at $24.61. Since that call, shares of Finisar Corp have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders finisar corp

Ticker(s): FNSR