SmarTrend Watching for Potential Pullback in Shares of Mentor Graphics After 1.37% Gain
Mentor Graphics (NASDAQ:MENT) traded in a range yesterday that spanned from a low of $28.33 to a high of $28.76. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $28.54 on volume of 2.0 million 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 Mentor Graphics have traded between a low of $8.50 and a high of $28.75 and are now at $28.71, which is 238% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.47% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Mentor Graphics on April 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.74. Since that recommendation, shares of Mentor Graphics have risen 36.8%. We continue to monitor MENT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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