FireEye Shares: A Technical Battleground

FireEye FEYE shares had been rallying the past three trading days and was up 1.39 points to $30.32 at the close of the market on Tuesday.

Taking a look back, there are some technical trends in the stocks performance over the past few trading sessions.

If we look at FireEye stock performance from Friday (May 16), Monday and Tuesday, the stock exhibited a technical trend of hitting a value and then get sold off. On Friday, FireEye stocks increased until it hit $28.325. On Monday, the stock hit $29.96 and Tuesday hit $32.05 before it sold.

Looking back a couple weeks, FireEye shares exhibit even more interesting trends.

On May 7, 2014, FireEye shares opened with a gap from the previous day after news FireEye would enter an agreement to acquire nPulse Technologies.

Since May 7, shares were staying in consolidation with a low of $25.77 and high of $37.13, decreasing 30.25 percent, including the price drop from the gap, until May 15. Beginning on May 16, however, FireEye shares had been increasing 13.77 percent percent through May 20.

News came out Tuesday that FireEye's share lock-up would be expiring on Wednesday, allowing for 82 million shares to be traded without restrictions. Along with the news of the share lock-up expiring, FireEye shares traded up 4.8 percent Tuesday and closed at $30.32.

Shares are up almost two percent at $30.90 in Wednesday afternoon's session.