After Yesterday's Rally of 1.05% Shares Could Potentially Pullback
Edwards Lifesciences (NYSE:EW) traded in a range yesterday that spanned from a low of $107.39 to a high of $109.60. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $109.32 on volume of 631,000 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, Edwards Lifesciences has traded in a range of $61.38 to $109.32 and is now at $109.06, 78% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 2.0%.
SmarTrend recommended that subscribers consider buying shares of Edwards Lifesciences on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.20. Since that recommendation, shares of Edwards Lifesciences have risen 31.4%. We continue to monitor EW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders edwards lifesciences