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Watch for TIBCO Software to Potentially Pullback After Gaining 3.38% Yesterday
Jan 11, 2013 (SmarTrend(R) News Watch via COMTEX) --
TIBCO Software (NASDAQ:TIBX) traded in a range yesterday that spanned from a low of $22.33 to a high of $23.04. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $22.54 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of TIBCO Software have traded between a low of $18.95 and a high of $34.67 and are now at $22.95, which is 21% above that low price. The 200-day and 50-day moving averages have moved 0.61% lower and 1.4% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of TIBCO Software on October 8th, 2012 by issuing a Downtrend alert when the shares were trading at $28.72. Since that call, shares of TIBCO Software have fallen 22.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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