After Yesterday's Rally of 1.11% Shares Could Potentially Pullback
Frontier Communications (NYSE:FTR) traded in a range yesterday that spanned from a low of $5.36 to a high of $5.48. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $5.42 on volume of 6.0 million 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, shares of Frontier Communications have traded between a low of $3.81 and a high of $7.17 and are now at $5.45, which is 43% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.6%.
SmarTrend recommended that subscribers consider buying shares of Frontier Communications on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.76. Since that recommendation, shares of Frontier Communications have risen 13.8%. We continue to monitor FTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Frontier Communications