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Ubiquiti Network Set to Possibly Pullback After Yesterday's Rally of 14.34%

By Shiri Gupta

Ubiquiti Network (NASDAQ:UBNT) traded in a range yesterday that spanned from a low of $98.89 to a high of $112.38. Yesterday, the shares gained 14.3%, which took the trading range above the 3-day high of $96.09 on volume of 930,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Ubiquiti Network share prices have moved between a 52-week high of $112.38 and a 52-week low of $49.40 and are now trading 121% above that low price at $109.37 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend is monitoring the recent change of momentum in Ubiquiti Network. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ubiquiti Network in search of a potential trend change.

Keywords: rebounders ubiquiti network

Ticker(s): UBNT