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SmarTrend Watching for Potential Rebound in Shares of Lumentum Hol After 2.64% Loss

By David Diaz

Lumentum Hol (NASDAQ:LITE) traded in a range yesterday that spanned from a low of $76.83 to a high of $80.44. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $79.32 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Lumentum Hol share prices have been bracketed by a low of $40.28 and a high of $93.23 and are now at $78.67, 95% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

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

Keywords: rebounders lumentum hol

Ticker(s): LITE