After Yesterday's Rally of 2.05% Shares Could Potentially Pullback
Universal Insurance Holdings (AMEX:UVE) traded in a range yesterday that spanned from a low of $22.98 to a high of $23.45. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $23.13 on volume of 88,000 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, Universal Insurance Holdings share prices have been bracketed by a low of $15.86 and a high of $37.49 and are now at $23.32, 47% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.8%.
SmarTrend recommended that subscribers consider buying shares of Universal Insurance Holdings on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.33. Since that recommendation, shares of Universal Insurance Holdings have risen 18.9%. We continue to monitor UVE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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