After Yesterday's Rally of 1.14% Shares Could Potentially Pullback
Universal Health Services (NYSE:UHS) traded in a range yesterday that spanned from a low of $134.01 to a high of $135.19. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $135.14 on volume of 218,000 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, Universal Health Services has traded in a range of $100.82 to $148.57 and is now at $134.67, 34% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.
SmarTrend recommended that subscribers consider buying shares of Universal Health Services on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $112.10. Since that recommendation, shares of Universal Health Services have risen 18.9%. We continue to monitor UHS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders universal health services