After Yesterday's Rally of 1.79% Shares Could Potentially Pullback
SBA Communications (NASDAQ:SBAC) traded in a range yesterday that spanned from a low of $111.81 to a high of $115.19. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $113.37 on volume of 558,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of SBA Communications on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $103.57. Since that recommendation, shares of SBA Communications have risen 8.6%. We continue to monitor SBAC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
SBA Communications share prices have moved between a 52-week high of $128.47 and a 52-week low of $82.80 and are now trading 39% above that low price at $115.04 per share. The 200-day and 50-day moving averages have moved 0.28% lower and 0.67% higher over the past week, respectively.
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