After Yesterday's Rally of 1.04% Shares Could Potentially Pullback
AO Smith (NYSE:AOS) traded in a range yesterday that spanned from a low of $82.77 to a high of $83.72. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $83.14 on volume of 565,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, AO Smith share prices have been bracketed by a low of $50.09 and a high of $83.92 and are now at $83.54, 67% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of AO Smith on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.28. Since that recommendation, shares of AO Smith have risen 19.6%. We continue to monitor AOS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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