After Yesterday's Rally of 1.28% Shares Could Potentially Pullback
VMware (NYSE:VMW) traded in a range yesterday that spanned from a low of $73.34 to a high of $74.33. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $73.83 on volume of 908,000 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, VMware share prices have been bracketed by a low of $43.25 and a high of $93.43 and are now at $73.82, 71% above that low price. The 200-day and 50-day moving averages have moved 0.89% lower and 1.05% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of VMware on July 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.28. Since that recommendation, shares of VMware have risen 6.8%. We continue to monitor VMW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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