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After Yesterday's Rally of 1.27% Shares Could Potentially Pullback

By James Quinn

Manhattan Associates (NASDAQ:MANH) traded in a range yesterday that spanned from a low of $56.41 to a high of $57.59. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $57.33 on volume of 415,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Manhattan Associates on June 24th, 2016 by issuing a Downtrend alert when the shares were trading at $62.46. Since that call, shares of Manhattan Associates have fallen 9.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Manhattan Associates share prices have moved between a 52-week high of $126.27 and a 52-week low of $28.24 and are now trading 103% above that low price at $57.46 per share. The 200-day and 50-day moving averages have moved 0.08% lower and 0.70% higher over the past week, respectively.

Keywords: rebounders manhattan associates

Ticker(s): MANH