After Yesterday's Rally of 1.17% Shares Could Potentially Pullback
Toyota Motor (NYSE:TM) traded in a range yesterday that spanned from a low of $120.90 to a high of $121.77. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $120.76 on volume of 175,000 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, shares of Toyota Motor have traded between a low of $97.80 and a high of $142.34 and are now at $121.08, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.3%.
SmarTrend recommended that subscribers consider buying shares of Toyota Motor on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.36. Since that recommendation, shares of Toyota Motor have risen 13.7%. We continue to monitor TM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Toyota Motor