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Look for Shares of Iridium Communic to Potentially Pullback after Yesterday's 2.01% Rise

By Nick Russo

Iridium Communic (NASDAQ:IRDM) traded in a range yesterday that spanned from a low of $22.71 to a high of $23.30. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $22.97 on volume of 293,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Iridium Communic share prices have moved between a 52-week high of $28.24 and a 52-week low of $10.75 and are now trading 116% above that low price at $23.25 per share. The 200-day and 50-day moving averages have moved 0.14% higher and 0.92% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Iridium Communic on May 14th, 2019 by issuing a Downtrend alert when the shares were trading at $25.15. Since that call, shares of Iridium Communic 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 iridium communic

Ticker(s): IRDM