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Watch for Semtech Corp to Potentially Rebound After Falling 1.75% Yesterday

By David Diaz

Semtech Corp (NASDAQ:SMTC) traded in a range yesterday that spanned from a low of $42.69 to a high of $43.40. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $42.71 on volume of 532,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Semtech Corp share prices have moved between a 52-week high of $60.55 and a 52-week low of $39.80 and are now trading 9% above that low price at $43.40 per share. The 200-day and 50-day moving averages have moved 0.26% lower and 1.75% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Semtech Corp on March 27th, 2019 by issuing a Downtrend alert when the shares were trading at $51.18. Since that call, shares of Semtech Corp have fallen 14.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders semtech corp

Ticker(s): SMTC