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SmarTrend Watching for Potential Rebound in Shares of Lumentum Hol After 1.74% Loss

By James Quinn

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $48.65 to a high of $49.90. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $49.08 on volume of 785,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, shares of Lumentum Hol have traded between a low of $37.00 and a high of $63.95 and are now at $49.41, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.4%.

Keywords: rebounders lumentum hol

Ticker(s): LITE