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After Yesterday's Rally of 1.02% Shares Could Potentially Pullback

By Nick Russo

Conagra Brands I (NYSE:CAG) traded in a range yesterday that spanned from a low of $21.38 to a high of $21.87. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $21.64 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Conagra Brands I share prices have moved between a 52-week high of $39.43 and a 52-week low of $20.22 and are now trading 8% above that low price at $21.75 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Conagra Brands I on November 14th, 2018 by issuing a Downtrend alert when the shares were trading at $33.52. Since that call, shares of Conagra Brands I have fallen 35.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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Ticker(s): CAG