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After Yesterday's Rally of 1.11% Shares Could Potentially Pullback

By Shiri Gupta

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.

Keywords: rebounders public service enterprise group

Ticker(s): PEG