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After Yesterday's Rally of 1.45% Shares Could Potentially Pullback

By James Quinn

BB&T (NYSE:BBT) traded in a range yesterday that spanned from a low of $37.61 to a high of $38.58. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $38.47 on volume of 4.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

BB&T share prices have moved between a 52-week high of $41.90 and a 52-week low of $29.95 and are now trading 28% above that low price at $38.40 per share. 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%.

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 3.6%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders BB&T

Ticker(s): BBT