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After Yesterday's Rally of 1.80% Shares Could Potentially Pullback

By James Quinn

SK Telecom (NYSE:SKM) traded in a range yesterday that spanned from a low of $25.78 to a high of $26.07. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $25.66 on volume of 549,000 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 SK Telecom on February 8th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.05. Since that recommendation, shares of SK Telecom have risen 15.7%. We continue to monitor SKM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of SK Telecom have traded between a low of $17.52 and a high of $29.34 and are now at $25.93, which is 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

Keywords: rebounders sk telecom

Ticker(s): SKM