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SmarTrend Watching for Potential Pullback in Shares of Exelixis Inc After 5.34% Gain

By James Quinn

Exelixis Inc (NASDAQ:EXEL) traded in a range yesterday that spanned from a low of $19.70 to a high of $20.74. Yesterday, the shares gained 5.3%, which took the trading range above the 3-day high of $19.72 on volume of 3.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Exelixis Inc share prices have moved between a 52-week high of $29.50 and a 52-week low of $10.04 and are now trading 103% above that low price at $20.38 per share. The 200-day and 50-day moving averages have moved 0.4% lower and 0.78% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Exelixis Inc on December 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.19. Since that recommendation, shares of Exelixis Inc have risen 14.3%. We continue to monitor EXEL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders exelixis inc

Ticker(s): EXEL