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After Yesterday's Rally of 1.29% Shares Could Potentially Pullback

By James Quinn

Owens & Minor (NYSE:OMI) traded in a range yesterday that spanned from a low of $16.94 to a high of $17.42. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $17.09 on volume of 452,000 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 Owens & Minor have traded between a low of $14.26 and a high of $38.28 and are now at $17.05, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens & Minor on February 1st, 2018 by issuing a Downtrend alert when the shares were trading at $18.24. Since that call, shares of Owens & Minor have fallen 6.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders owens & minor

Ticker(s): OMI