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Progress Softwar Set to Possibly Pullback After Yesterday's Rally of 1.95%

By Shiri Gupta

Progress Softwar (NASDAQ:PRGS) traded in a range yesterday that spanned from a low of $41.69 to a high of $42.37. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $41.75 on volume of 66,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Progress Softwar have traded between a low of $31.78 and a high of $47.60 and are now at $42.37, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Progress Softwar and will alert subscribers who have PRGS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders progress softwar

Ticker(s): PRGS