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Watch for Citrix Systems to Potentially Pullback After Gaining 1.85% Yesterday

By Shiri Gupta

Citrix Systems (NASDAQ:CTXS) traded in a range yesterday that spanned from a low of $79.68 to a high of $81.66. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $81.23 on volume of 555,000 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, Citrix Systems share prices have been bracketed by a low of $60.91 and a high of $95.90 and are now at $81.54, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.1%.

SmarTrend is tracking the current trend status for Citrix Systems and will alert subscribers who have CTXS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Citrix Systems

Ticker(s): CTXS