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

By Nick Russo

Northrop Grumman (NYSE:NOC) traded in a range yesterday that spanned from a low of $274.73 to a high of $278.34. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $277.84 on volume of 361,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Northrop Grumman share prices have moved between a 52-week high of $360.88 and a 52-week low of $251.66 and are now trading 10% above that low price at $277.67 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Northrop Grumman on October 11th, 2018 by issuing a Downtrend alert when the shares were trading at $302.36. Since that call, shares of Northrop Grumman have fallen 9.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Northrop Grumman

Ticker(s): NOC