After Yesterday's Rally of 1.15% Shares Could Potentially Pullback
Amphenol (NYSE:APH) traded in a range yesterday that spanned from a low of $61.41 to a high of $62.40. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $62.27 on volume of 604,000 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, Amphenol has traded in a range of $44.50 to $62.40 and is now at $62.22, 40% above that low. The 200-day and 50-day moving averages have moved 0.05% higher and 0.49% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Amphenol on July 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.24. Since that recommendation, shares of Amphenol have risen 3.8%. We continue to monitor APH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amphenol