• Return to Headlines

SmarTrend Watching for Potential Pullback in Shares of Ormat Technologi After 1.04% Gain

By James Quinn

Ormat Technologi (NYSE:ORA) traded in a range yesterday that spanned from a low of $71.99 to a high of $72.89. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $72.00 on volume of 165,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Ormat Technologi on April 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.54. Since that recommendation, shares of Ormat Technologi have risen 25.0%. We continue to monitor ORA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Ormat Technologi have traded between a low of $49.01 and a high of $74.75 and are now at $72.83, which is 49% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.2%.

Keywords: rebounders ormat technologi

Ticker(s): ORA