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SmarTrend Watching for Potential Rebound in Shares of Lumentum Hol After 6.52% Loss

By James Quinn

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $57.10 to a high of $60.50. Yesterday, the shares fell 6.5%, which took the trading range below the 3-day low of $60.75 on volume of 3.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Lumentum Hol share prices have moved between a 52-week high of $74.40 and a 52-week low of $22.04 and are now trading 173% above that low price at $60.25 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.4%.

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.

Keywords: rebounders lumentum hol

Ticker(s): LITE