QLogic set to sell-off after yesterday's 2.02% (QLGC rebound)

Source:mysmartrend.com

QLogic (NASDAQ:QLGC) traded in a range yesterday that spanned from a low of $18.64 to a high of $19.31. Yesterday, the shares fell 2.02%, which took the trading range below the 3-day low of $19.02 on volume of 3.3 million shares.

Shares of QLogic are currently trading below their 50-day moving average (MA) of $20.23 and should find support at their 200-day MA of $18.19. Look for these MAs to provide resistance for a short-term rebound in the shares.