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After Yesterday's Rally of 1.06% Shares Could Potentially Pullback

By James Quinn

Chemical Financial (NASDAQ:CHFC) traded in a range yesterday that spanned from a low of $45.68 to a high of $47.62. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $45.47 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Chemical Financial share prices have moved between a 52-week high of $47.62 and a 52-week low of $29.40 and are now trading 56% above that low price at $45.91 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Chemical Financial on July 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.11. Since that recommendation, shares of Chemical Financial have risen 16.2%. We continue to monitor CHFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders chemical financial

Ticker(s): CHFC