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After Yesterday's Rally of 1.72% Shares Could Potentially Pullback

By Nick Russo

Tegna Inc (NYSE:TGNA) traded in a range yesterday that spanned from a low of $14.28 to a high of $14.54. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $14.53 on volume of 692,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Tegna Inc share prices have moved between a 52-week high of $17.07 and a 52-week low of $11.47 and are now trading 27% above that low price at $14.54 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Tegna Inc on June 1st, 2017 by issuing a Downtrend alert when the shares were trading at $15.05. Since that call, shares of Tegna Inc have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders tegna inc

Ticker(s): TGNA