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After Yesterday's Rally of 4.03% Shares Could Potentially Pullback

By David Diaz

Ambarella Inc (NASDAQ:AMBA) traded in a range yesterday that spanned from a low of $49.64 to a high of $51.46. Yesterday, the shares gained 4.0%, which took the trading range above the 3-day high of $51.32 on volume of 77,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Ambarella Inc share prices have moved between a 52-week high of $73.59 and a 52-week low of $36.02 and are now trading 41% above that low price at $50.91 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has remained constant.

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

Keywords: rebounders ambarella inc

Ticker(s): AMBA