After Yesterday's Rally of 2.15% Shares Could Potentially Pullback
Laboratory Corp of America Holdings (NYSE:LH) traded in a range yesterday that spanned from a low of $126.95 to a high of $129.15. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $128.43 on volume of 847,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Laboratory Corp of America Holdings has traded in a range of $97.79 to $131.99 and is now at $128.72, 32% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.
SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.54. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 13.7%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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