Look for Shares of Maxim Integrated Products to Potentially Rebound after Yesterday's 1.32% Sell Off
Maxim Integrated Products (NASDAQ:MXIM) traded in a range yesterday that spanned from a low of $40.17 to a high of $40.53. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $40.57 on volume of 819,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, shares of Maxim Integrated Products have traded between a low of $20.62 and a high of $42.37 and are now at $40.49, which is 96% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Maxim Integrated Products on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.81. Since that recommendation, shares of Maxim Integrated Products have risen 8.4%. We continue to monitor MXIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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