After Yesterday's Rally of 1.11% Shares Could Potentially Pullback
Medicines Co (NASDAQ:MDCO) traded in a range yesterday that spanned from a low of $37.74 to a high of $39.02. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $38.37 on volume of 285,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Medicines Co share prices have moved between a 52-week high of $43.79 and a 52-week low of $12.33 and are now trading 210% above that low price at $38.24 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Medicines Co on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.70. Since that recommendation, shares of Medicines Co have risen 3.3%. We continue to monitor MDCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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