Look for Shares of Analog Devices to Potentially Pullback after Yesterday's 1.35% Rise
Analog Devices (NYSE:ADI) traded in a range yesterday that spanned from a low of $62.31 to a high of $62.84. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $62.71 on volume of 999,000 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 Analog Devices have traded between a low of $47.24 and a high of $68.97 and are now at $62.42, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.59% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Analog Devices. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Analog Devices in search of a potential trend change.
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