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After Yesterday's Rally of 1.54% Shares Could Potentially Pullback

By Nick Russo

Viacom Inc-B (NASDAQ:VIAB) traded in a range yesterday that spanned from a low of $28.48 to a high of $29.47. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $28.62 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Viacom Inc-B share prices have moved between a 52-week high of $36.96 and a 52-week low of $22.13 and are now trading 30% above that low price at $28.67 per share. The 200-day and 50-day moving averages have moved 0.02% lower and 0.52% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Viacom Inc-B on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $31.01. Since that call, shares of Viacom Inc-B have fallen 8.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders viacom inc-b

Ticker(s): VIAB