After Yesterday's Rally of 1.19% Shares Could Potentially Pullback
American Woodmark (NASDAQ:AMWD) traded in a range yesterday that spanned from a low of $88.13 to a high of $89.57. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $88.24 on volume of 223,000 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 American Woodmark have traded between a low of $48.35 and a high of $89.89 and are now at $89.21, which is 85% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.4%.
SmarTrend recommended that subscribers consider buying shares of American Woodmark on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.28. Since that recommendation, shares of American Woodmark have risen 25.2%. We continue to monitor AMWD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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