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Watch for Splunk Inc to Potentially Rebound After Falling 1.64% Yesterday

By David Diaz

Splunk Inc (NASDAQ:SPLK) traded in a range yesterday that spanned from a low of $105.00 to a high of $109.76. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $105.46 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Splunk Inc on November 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.37. Since that recommendation, shares of Splunk Inc have risen 57.8%. We continue to monitor SPLK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Splunk Inc share prices have moved between a 52-week high of $109.76 and a 52-week low of $50.60 and are now trading 109% above that low price at $105.96 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 2.5%.

Keywords: rebounders splunk inc

Ticker(s): SPLK