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After Yesterday's Rally of 1.78% Shares Could Potentially Pullback

By Shiri Gupta

Varian Medical S (NYSE:VAR) traded in a range yesterday that spanned from a low of $111.13 to a high of $113.65. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $111.25 on volume of 268,000 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 Varian Medical S have traded between a low of $76.94 and a high of $114.09 and are now at $113.04, which is 47% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Varian Medical S on October 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.86. Since that recommendation, shares of Varian Medical S have risen 5.7%. We continue to monitor VAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders varian medical s

Ticker(s): VAR