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After Yesterday's Rally of 7.63% Shares Could Potentially Pullback
Mar 07, 2013 (SmarTrend(R) News Watch via COMTEX) --
JDS Uniphase (NASDAQ:JDSU) traded in a range yesterday that spanned from a low of $14.90 to a high of $15.30. Yesterday, the shares gained 7.6%, which took the trading range above the 3-day high of $14.37 on volume of 9.7 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, JDS Uniphase share prices have been bracketed by a low of $8.47 and a high of $29.12 and are now at $15.23, 80% above that low price. The 200-day and 50-day moving averages have moved 0.46% higher and 0.37% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of JDS Uniphase on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.43. Since that recommendation, shares of JDS Uniphase have risen 23.9%. We continue to monitor JDSU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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