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

By Amy Schwartz

FirstEnergy (NYSE:FE) traded in a range yesterday that spanned from a low of $28.79 to a high of $29.31. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $28.97 on volume of 1.1 million 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, FirstEnergy has traded in a range of $27.93 to $37.05 and is now at $29.25, 5% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of FirstEnergy on April 28th, 2017 by issuing a Downtrend alert when the shares were trading at $30.12. Since that call, shares of FirstEnergy have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders firstenergy

Ticker(s): FE