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After Yesterday's Rally of 1.62% Shares Could Potentially Pullback

By Nick Russo

Brookfield Asset Management (NYSE:BAM) traded in a range yesterday that spanned from a low of $36.35 to a high of $37.06. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $37.03 on volume of 376,000 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 Brookfield Asset Management have traded between a low of $26.13 and a high of $37.52 and are now at $36.93, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Brookfield Asset Management and will alert subscribers who have BAM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Brookfield Asset Management

Ticker(s): BAM