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Look for Shares of Mellanox Technologies to Potentially Rebound after Yesterday's 2.51% Sell Off
[December 27, 2012]

Look for Shares of Mellanox Technologies to Potentially Rebound after Yesterday's 2.51% Sell Off

Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Mellanox Technologies (NASDAQ:MLNX) traded in a range yesterday that spanned from a low of $57.83 to a high of $59.48. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $59.01 on volume of 730,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

In the past 52 weeks, Mellanox Technologies share prices have been bracketed by a low of $24.51 and a high of $120.05 and are now at $58.22, 138% above that low price. The 200-day and 50-day moving averages have moved 0.32% higher and 2.07% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Mellanox Technologies on December 3rd, 2012 by issuing a Downtrend alert when the shares were trading at $70.43. Since that call, shares of Mellanox Technologies have fallen 15.2%. 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 --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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