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After Yesterday's Rally of 1.88% Shares Could Potentially Pullback

By Amy Schwartz

Tesoro (NYSE:TSO) traded in a range yesterday that spanned from a low of $77.45 to a high of $80.38. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $78.98 on volume of 1.2 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, Tesoro share prices have been bracketed by a low of $67.80 and a high of $119.67 and are now at $79.62, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Tesoro on March 31st, 2016 by issuing a Downtrend alert when the shares were trading at $85.13. Since that call, shares of Tesoro have fallen 8.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Tesoro

Ticker(s): TSO