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After Yesterday's Rally of 1.37% Shares Could Potentially Pullback

By Amy Schwartz

Symantec (NASDAQ:SYMC) traded in a range yesterday that spanned from a low of $28.66 to a high of $28.99. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $28.97 on volume of 1.7 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, shares of Symantec have traded between a low of $16.14 and a high of $33.22 and are now at $28.97, which is 79% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Symantec on May 18th, 2017 by issuing a Downtrend alert when the shares were trading at $29.65. Since that call, shares of Symantec have fallen 3.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Symantec

Ticker(s): SYMC