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After Yesterday's Rally of 1.09% Shares Could Potentially Pullback

By Nick Russo

Clovis Oncology (NASDAQ:CLVS) traded in a range yesterday that spanned from a low of $71.16 to a high of $73.10. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $72.72 on volume of 251,000 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, Clovis Oncology share prices have been bracketed by a low of $11.57 and a high of $99.45 and are now at $72.15, 524% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2% while the 200-day MA has slid 2.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Clovis Oncology on July 19th, 2017 by issuing a Downtrend alert when the shares were trading at $85.01. Since that call, shares of Clovis Oncology have fallen 15.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders clovis oncology

Ticker(s): CLVS