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After Yesterday's Rally of 1.19% Shares Could Potentially Pullback

By Amy Schwartz

Sinclair Broadcast Group (NASDAQ:SBGI) traded in a range yesterday that spanned from a low of $33.00 to a high of $34.15. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $33.80 on volume of 823,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Sinclair Broadcast Group on April 13th, 2017 by issuing a Downtrend alert when the shares were trading at $38.95. Since that call, shares of Sinclair Broadcast Group have fallen 13.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Sinclair Broadcast Group share prices have been bracketed by a low of $24.04 and a high of $43.05 and are now at $33.92, 41% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 0.72% higher over the past week, respectively.

Keywords: rebounders sinclair broadcast group

Ticker(s): SBGI