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After Yesterday's Rally of 2.06% Shares Could Potentially Pullback

By Shiri Gupta

Owens & Minor (NYSE:OMI) traded in a range yesterday that spanned from a low of $18.90 to a high of $19.51. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $19.30 on volume of 264,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Owens & Minor share prices have moved between a 52-week high of $38.28 and a 52-week low of $17.75 and are now trading 8% above that low price at $19.22 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.7% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens & Minor on October 27th, 2017 by issuing a Downtrend alert when the shares were trading at $26.87. Since that call, shares of Owens & Minor have fallen 29.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders owens & minor

Ticker(s): OMI