After Yesterday's Rally of 1.44% Shares Could Potentially Pullback
Sysco (NYSE:SYY) traded in a range yesterday that spanned from a low of $51.09 to a high of $51.95. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $51.81 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Sysco share prices have moved between a 52-week high of $51.95 and a 52-week low of $35.45 and are now trading 46% above that low price at $51.88 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.
SmarTrend recommended that subscribers consider buying shares of Sysco on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.38. Since that recommendation, shares of Sysco have risen 20.5%. We continue to monitor SYY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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