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Thomas Hughes

FORGOTTEN HISTORY: Analog devices provides much needed pullback how low can it go | History Defined

Analog Devices ADI Automotive MarketBeat

Analog Devices' (NASDAQ: ADI) share price peaked in mid-May and is set up to pull back by mid-year. A pullback is much-needed for this market, as the stock price has recently advanced about 35% in a nearly vertical movement.

The question is how deep the pullback may get, and the likely answer is not very deep. Analog Devices' fiscal Q2 results weren’t a catalyst for bulls, but they align 100% with market trends, suggesting the uptrend in stock prices isn’t over.

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