After Yesterday's Rally of 1.27% Shares Could Potentially Pullback
VMware (NYSE:VMW) traded in a range yesterday that spanned from a low of $60.07 to a high of $61.71. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $60.69 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
VMware share prices have moved between a 52-week high of $93.43 and a 52-week low of $43.25 and are now trading 42% above that low price at $61.26 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of VMware on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.88. Since that recommendation, shares of VMware have risen 21.4%. We continue to monitor VMW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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