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After Yesterday's Rally of 1.43% Shares Could Potentially Pullback

By David Diaz

Ameriprise Finan (NYSE:AMP) traded in a range yesterday that spanned from a low of $169.34 to a high of $170.95. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $170.31 on volume of 138,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Ameriprise Finan has traded in a range of $111.51 to $170.95 and is now at $170.45, 53% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Ameriprise Finan on October 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $140.17. Since that recommendation, shares of Ameriprise Finan have risen 20.1%. We continue to monitor AMP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ameriprise finan

Ticker(s): AMP