After Yesterday's Rally of 1.22% Shares Could Potentially Pullback
Toyota Motor (NYSE:TM) traded in a range yesterday that spanned from a low of $118.52 to a high of $118.88. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $118.18 on volume of 374,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Toyota Motor share prices have moved between a 52-week high of $142.34 and a 52-week low of $97.80 and are now trading 21% above that low price at $118.61 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.6%.
SmarTrend recommended that subscribers consider buying shares of Toyota Motor on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.36. Since that recommendation, shares of Toyota Motor have risen 11.3%. We continue to monitor TM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Toyota Motor