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Maxlinear Set to Possibly Rebound After Yesterday's Selloff of 1.29%

By Shiri Gupta

Maxlinear (NYSE:MXL) traded in a range yesterday that spanned from a low of $21.29 to a high of $22.10. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $22.02 on volume of 779,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Maxlinear on June 15th, 2017 by issuing a Downtrend alert when the shares were trading at $28.05. Since that call, shares of Maxlinear have fallen 21.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Maxlinear share prices have been bracketed by a low of $16.84 and a high of $32.47 and are now at $21.93, 30% above that low price. The 200-day and 50-day moving averages have moved 0.69% higher and 0.62% higher over the past week, respectively.

Keywords: rebounders maxlinear

Ticker(s): MXL