After Yesterday's Rally of 1.33% Shares Could Potentially Pullback
EMC (NYSE:EMC) traded in a range yesterday that spanned from a low of $27.00 to a high of $27.44. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $27.32 on volume of 7.8 million 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, EMC share prices have been bracketed by a low of $22.66 and a high of $28.77 and are now at $27.40, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of EMC on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.04. Since that recommendation, shares of EMC have risen 3.8%. We continue to monitor EMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.