After Yesterday's Rally of 13.23% Shares Could Potentially Pullback
B&G Foods (NYSE:BGS) traded in a range yesterday that spanned from a low of $49.11 to a high of $52.84. Yesterday, the shares gained 13.2%, which took the trading range above the 3-day high of $47.24 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of B&G Foods on April 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.13. Since that recommendation, shares of B&G Foods have risen 17.0%. We continue to monitor BGS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of B&G Foods have traded between a low of $28.12 and a high of $52.84 and are now at $51.82, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.0%.
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