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Watch for Arrow Electronic to Potentially Pullback After Gaining 1.14% Yesterday

By David Diaz

Arrow Electronic (NYSE:ARW) traded in a range yesterday that spanned from a low of $75.66 to a high of $77.43. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $76.64 on volume of 147,000 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, Arrow Electronic share prices have been bracketed by a low of $62.35 and a high of $86.62 and are now at $77.12, 24% 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 remained constant.

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

Keywords: rebounders arrow electronic

Ticker(s): ARW