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Look for Shares of Finisar Corp to Potentially Pullback after Yesterday's 18.67% Rise

By James Quinn

Finisar Corp (NASDAQ:FNSR) traded in a range yesterday that spanned from a low of $21.27 to a high of $22.60. Yesterday, the shares gained 18.7%, which took the trading range above the 3-day high of $18.89 on volume of 13.1 million 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, Finisar Corp share prices have been bracketed by a low of $14.25 and a high of $25.41 and are now at $22.28, 56% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 1.14% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Finisar Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Finisar Corp in search of a potential trend change.

Keywords: rebounders finisar corp

Ticker(s): FNSR