After Yesterday's Rally of 1.76% Shares Could Potentially Pullback
Deutsche Bank (NYSE:DB) traded in a range yesterday that spanned from a low of $16.06 to a high of $16.50. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $16.24 on volume of 5.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Deutsche Bank has traded in a range of $11.19 to $35.38 and is now at $16.45, 47% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 1.3%.
SmarTrend recommended that subscribers consider buying shares of Deutsche Bank on October 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.87. Since that recommendation, shares of Deutsche Bank have risen 16.7%. We continue to monitor DB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Deutsche Bank