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After Yesterday's Rally of 1.13% Shares Could Potentially Pullback

By Nick Russo

Omnicom Group (NYSE:OMC) traded in a range yesterday that spanned from a low of $71.86 to a high of $72.78. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $72.70 on volume of 665,000 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, Omnicom Group share prices have been bracketed by a low of $65.32 and a high of $89.66 and are now at $72.73, 11% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Omnicom Group on March 1st, 2018 by issuing a Downtrend alert when the shares were trading at $74.49. Since that call, shares of Omnicom Group have fallen 3.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Omnicom Group

Ticker(s): OMC