After Yesterday's Rally of 1.32% Shares Could Potentially Pullback
Kirby (NYSE:KEX) traded in a range yesterday that spanned from a low of $54.68 to a high of $55.73. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $54.80 on volume of 429,000 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 Kirby have traded between a low of $44.63 and a high of $84.05 and are now at $55.50, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.4%.
SmarTrend recommended that its subscribers protect gains by selling shares of Kirby on June 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $66.80. Since that call, shares of Kirby have fallen 18.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders kirby