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Watch for Analog Devices to Potentially Pullback After Gaining 1.62% Yesterday

By Shiri Gupta

Analog Devices (NASDAQ:ADI) traded in a range yesterday that spanned from a low of $87.59 to a high of $89.74. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $89.02 on volume of 489,000 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, Analog Devices share prices have been bracketed by a low of $76.62 and a high of $103.59 and are now at $89.59, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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

Keywords: rebounders Analog Devices

Ticker(s): ADI