After Yesterday's Rally of 1.21% Shares Could Potentially Pullback
L-3 Communications (NYSE:LLL) traded in a range yesterday that spanned from a low of $137.15 to a high of $138.64. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $138.00 on volume of 273,000 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, L-3 Communications has traded in a range of $101.11 to $138.60 and is now at $138.51, 37% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.
SmarTrend recommended that subscribers consider buying shares of L-3 Communications on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.88. Since that recommendation, shares of L-3 Communications have risen 16.1%. We continue to monitor LLL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders l-3 communications