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After Yesterday's Rally of 1.81% Shares Could Potentially Pullback

By Shiri Gupta

E*Trade Financial (NASDAQ:ETFC) traded in a range yesterday that spanned from a low of $25.96 to a high of $27.09. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $26.86 on volume of 4.2 million 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 E*Trade Financial have traded between a low of $19.61 and a high of $31.48 and are now at $27.05, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.4%.

SmarTrend is tracking the current trend status for E*Trade Financial and will alert subscribers who have ETFC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders e*trade financial

Ticker(s): ETFC