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Splunk Inc Set to Possibly Pullback After Yesterday's Rally of 2.41%

By Shiri Gupta

Splunk Inc (NASDAQ:SPLK) traded in a range yesterday that spanned from a low of $118.00 to a high of $121.64. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $119.83 on volume of 1.0 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, Splunk Inc share prices have been bracketed by a low of $54.17 and a high of $121.64 and are now at $120.95, 123% above that low price. The 200-day and 50-day moving averages have moved 0.98% higher and 1.14% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Splunk Inc on April 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.49. Since that recommendation, shares of Splunk Inc have risen 12.6%. We continue to monitor SPLK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders splunk inc

Ticker(s): SPLK