After Yesterday's Rally of 1.24% Shares Could Potentially Pullback
Deutsche Bank (NYSE:DB) traded in a range yesterday that spanned from a low of $14.49 to a high of $14.69. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $14.66 on volume of 3.2 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, Deutsche Bank has traded in a range of $11.19 to $35.38 and is now at $14.63, 31% above that low. The 200-day and 50-day moving averages have moved 1.3% lower and 0.25% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Deutsche Bank on October 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.87. Since that recommendation, shares of Deutsche Bank have risen 4.5%. We continue to monitor DB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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