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Fitbit Inc - A Set to Possibly Pullback After Yesterday's Rally of 3.57%

By Amy Schwartz

Fitbit Inc - A (NYSE:FIT) traded in a range yesterday that spanned from a low of $3.60 to a high of $3.80. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $3.68 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Fitbit Inc - A on May 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $5.07. Since that call, shares of Fitbit Inc - A have fallen 28.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Fitbit Inc - A have traded between a low of $2.81 and a high of $6.96 and are now at $3.79, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2.5%.

Keywords: rebounders fitbit inc - a

Ticker(s): FIT