After Yesterday's Rally of 1.38% Shares Could Potentially Pullback
BB&T (NYSE:BBT) traded in a range yesterday that spanned from a low of $39.18 to a high of $39.63. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $39.21 on volume of 2.0 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 BB&T on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.56. Since that recommendation, shares of BB&T have risen 6.8%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, BB&T share prices have been bracketed by a low of $29.95 and a high of $41.90 and are now at $39.56, 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.
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