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Look for Shares of Analog Devices to Potentially Rebound after Yesterday's 2.90% Sell Off

By Shiri Gupta

Analog Devices (NASDAQ:ADI) traded in a range yesterday that spanned from a low of $94.08 to a high of $96.71. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $97.45 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Analog Devices and will alert subscribers who have ADI in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Analog Devices has traded in a range of $76.41 to $103.59 and is now at $94.54, 24% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Keywords: rebounders Analog Devices

Ticker(s): ADI