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After Yesterday's Rally of 2.17% Shares Could Potentially Pullback

By Shiri Gupta

Manhattan Associates (NASDAQ:MANH) traded in a range yesterday that spanned from a low of $51.03 to a high of $52.37. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $51.33 on volume of 283,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Manhattan Associates has traded in a range of $28.24 to $126.27 and is now at $52.28, 85% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Keywords: rebounders manhattan associates

Ticker(s): MANH