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After Yesterday's Rally of 2.09% Shares Could Potentially Pullback

By James Quinn

Ultimate Software (NASDAQ:ULTI) traded in a range yesterday that spanned from a low of $195.55 to a high of $203.93. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $199.68 on volume of 149,000 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, shares of Ultimate Software have traded between a low of $148.26 and a high of $224.07 and are now at $203.10, which is 37% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

SmarTrend is tracking the current trend status for Ultimate Software and will alert subscribers who have ULTI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ultimate software

Ticker(s): ULTI