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After Yesterday's Rally of 1.97% Shares Could Potentially Pullback

By Amy Schwartz

Viacom Inc-B (NASDAQ:VIAB) traded in a range yesterday that spanned from a low of $34.51 to a high of $35.20. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $34.96 on volume of 1.6 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 Viacom Inc-B have traded between a low of $32.68 and a high of $46.72 and are now at $35.15, which is 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Viacom Inc-B on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $42.99. Since that call, shares of Viacom Inc-B have fallen 19.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders viacom inc-b

Ticker(s): VIAB