After Yesterday's Rally of 1.21% Shares Could Potentially Pullback
ConAgra Foods (NYSE:CAG) traded in a range yesterday that spanned from a low of $45.77 to a high of $46.30. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $45.65 on volume of 1.4 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, ConAgra Foods has traded in a range of $36.46 to $46.64 and is now at $45.85, 26% above that low. The 200-day and 50-day moving averages have moved 0.02% higher and 0.51% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of ConAgra Foods on February 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.40. Since that recommendation, shares of ConAgra Foods have risen 9.4%. We continue to monitor CAG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders conagra foods