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After Yesterday's Rally of 1.30% Shares Could Potentially Pullback

By James Quinn

Omnicom Group (NYSE:OMC) traded in a range yesterday that spanned from a low of $84.82 to a high of $85.70. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $85.24 on volume of 872,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Omnicom Group has traded in a range of $64.12 to $89.66 and is now at $85.49, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

SmarTrend is tracking the current trend status for Omnicom Group and will alert subscribers who have OMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Omnicom Group

Ticker(s): OMC