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After Yesterday's Rally of 1.36% Shares Could Potentially Pullback

By David Diaz

Centerpoint Energy (NYSE:CNP) traded in a range yesterday that spanned from a low of $23.10 to a high of $23.55. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $23.29 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 Centerpoint Energy on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.52. Since that recommendation, shares of Centerpoint Energy have risen 25.4%. We continue to monitor CNP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Centerpoint Energy have traded between a low of $16.05 and a high of $23.48 and are now at $23.46, which is 46% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 1.17% higher over the past week, respectively.

Keywords: rebounders CenterPoint Energy

Ticker(s): CNP