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Watch for Maxim Integrated to Potentially Pullback After Gaining 1.39% Yesterday

By David Diaz

Maxim Integrated (NASDAQ:MXIM) traded in a range yesterday that spanned from a low of $52.02 to a high of $53.39. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $52.89 on volume of 702,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Maxim Integrated has traded in a range of $33.38 to $74.94 and is now at $53.23, 59% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Maxim Integrated on September 12th, 2018 by issuing a Downtrend alert when the shares were trading at $57.19. Since that call, shares of Maxim Integrated have fallen 7.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders maxim integrated

Ticker(s): MXIM