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Look for Shares of Lumentum Hol to Potentially Pullback after Yesterday's 5.33% Rise

By Shiri Gupta

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $56.00 to a high of $58.76. Yesterday, the shares gained 5.3%, which took the trading range above the 3-day high of $57.52 on volume of 963,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Lumentum Hol on September 12th, 2018 by issuing a Downtrend alert when the shares were trading at $59.95. Since that call, shares of Lumentum Hol have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Lumentum Hol have traded between a low of $41.95 and a high of $74.40 and are now at $58.28, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders lumentum hol

Ticker(s): LITE