After Yesterday's Rally of 1.11% Shares Could Potentially Pullback
Public Service Enterprise Group (NYSE:PEG) traded in a range yesterday that spanned from a low of $45.84 to a high of $46.50. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $46.02 on volume of 856,000 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, Public Service Enterprise Group has traded in a range of $36.80 to $47.41 and is now at $46.41, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.
SmarTrend is tracking the current trend status for Public Service Enterprise Group and will alert subscribers who have PEG in their portfolio or watchlist when shares have changed trend direction.
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