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

By Shiri Gupta

LyondellBasell Industries (NYSE:LYB) traded in a range yesterday that spanned from a low of $80.74 to a high of $82.60. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $80.25 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

LyondellBasell Industries share prices have moved between a 52-week high of $107.32 and a 52-week low of $69.10 and are now trading 17% above that low price at $81.04 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of LyondellBasell Industries on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $83.83. Since that call, shares of LyondellBasell Industries have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lyondellbasell industries

Ticker(s): LYB