After Yesterday's Rally of 1.57% Shares Could Potentially Pullback
Toyota Motor (NYSE:TM) traded in a range yesterday that spanned from a low of $111.31 to a high of $112.27. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $112.20 on volume of 371,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Toyota Motor have traded between a low of $97.80 and a high of $142.34 and are now at $112.03, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.3%.
SmarTrend recommended that subscribers consider buying shares of Toyota Motor on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.36. Since that recommendation, shares of Toyota Motor have risen 4.5%. We continue to monitor TM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Toyota Motor