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Fitbit Inc - A Rises 1.32% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Fitbit Inc - A (NYSE:FIT) traded in a range yesterday that spanned from a low of $5.32 to a high of $5.46. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $5.35 on volume of 4.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Fitbit Inc - A share prices have moved between a 52-week high of $17.18 and a 52-week low of $4.67 and are now trading 15% above that low price at $5.37 per share. Over the past week, the 200-day moving average (MA) has gone down 2.1% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Fitbit Inc - A on November 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $5.85. Since that call, shares of Fitbit Inc - A have fallen 9.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders fitbit inc - a

Ticker(s): FIT