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After Yesterday's Rally of 1.25% Shares Could Potentially Pullback

By Nick Russo

Wright Medical (NASDAQ:WMGI) traded in a range yesterday that spanned from a low of $24.51 to a high of $25.27. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $24.91 on volume of 569,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Wright Medical have traded between a low of $15.02 and a high of $28.07 and are now at $25.01, which is 67% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Wright Medical on July 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.60. Since that recommendation, shares of Wright Medical have risen 33.0%. We continue to monitor WMGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders wright medical

Ticker(s): WMGI