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Look for Shares of Maxim Integrated to Potentially Rebound after Yesterday's 1.93% Sell Off

By Shiri Gupta

Maxim Integrated (NASDAQ:MXIM) traded in a range yesterday that spanned from a low of $53.41 to a high of $54.32. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $53.50 on volume of 593,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Maxim Integrated share prices have moved between a 52-week high of $74.94 and a 52-week low of $33.38 and are now trading 60% above that low price at $53.43 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

SmarTrend recommended that subscribers consider buying shares of Maxim Integrated on November 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.77. Since that recommendation, shares of Maxim Integrated have risen 3.3%. We continue to monitor MXIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders maxim integrated

Ticker(s): MXIM