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After Yesterday's Rally of 1.04% Shares Could Potentially Pullback

By David Diaz

Bgc Partners-A (NASDAQ:BGCP) traded in a range yesterday that spanned from a low of $12.54 to a high of $12.69. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $12.56 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Bgc Partners-A has traded in a range of $8.18 to $12.69 and is now at $12.66, 55% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Bgc Partners-A on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.34. Since that recommendation, shares of Bgc Partners-A have risen 34.4%. We continue to monitor BGCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders bgc partners-a

Ticker(s): BGCP