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Look for Shares of Lumentum Hol to Potentially Pullback after Yesterday's 2.20% Rise

By Amy Schwartz

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $56.70 to a high of $58.89. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $57.47 on volume of 507,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Lumentum Hol share prices have moved between a 52-week high of $74.40 and a 52-week low of $41.95 and are now trading 39% above that low price at $58.43 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.1%.

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

Keywords: rebounders lumentum hol

Ticker(s): LITE