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Watch for Proofpoint Inc to Potentially Pullback After Gaining 2.96% Yesterday

By Amy Schwartz

Proofpoint Inc (NASDAQ:PFPT) traded in a range yesterday that spanned from a low of $98.39 to a high of $101.38. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $98.24 on volume of 611,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

In the past 52 weeks, shares of Proofpoint Inc have traded between a low of $82.60 and a high of $130.27 and are now at $99.13, which is 20% 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 1.3%.

Keywords: rebounders proofpoint inc

Ticker(s): PFPT