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Watch for Semtech Corp to Potentially Rebound After Falling 6.29% Yesterday

By Shiri Gupta

Semtech Corp (NASDAQ:SMTC) traded in a range yesterday that spanned from a low of $51.10 to a high of $55.38. Yesterday, the shares fell 6.3%, which took the trading range below the 3-day low of $52.56 on volume of 1.3 million 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 $34.65 and are now trading 51% above that low price at $52.34 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Semtech Corp on February 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.47. Since that recommendation, shares of Semtech Corp have risen 7.8%. We continue to monitor SMTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders semtech corp

Ticker(s): SMTC