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

By James Quinn

Credit Suisse Group (NYSE:CS) traded in a range yesterday that spanned from a low of $13.33 to a high of $13.44. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $13.33 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Credit Suisse Group share prices have moved between a 52-week high of $29.99 and a 52-week low of $10.01 and are now trading 34% above that low price at $13.37 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 1.3%.

SmarTrend recommended that subscribers consider buying shares of Credit Suisse Group on August 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.28. Since that recommendation, shares of Credit Suisse Group have risen 7.1%. We continue to monitor CS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders credit suisse group

Ticker(s): CS