After Yesterday's Rally of 2.18% Shares Could Potentially Pullback
Spectra Energy (NYSE:SE) traded in a range yesterday that spanned from a low of $33.56 to a high of $34.17. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $34.03 on volume of 5.5 million 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, Spectra Energy has traded in a range of $32.43 to $43.12 and is now at $34.17, 5% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.4%.
SmarTrend is tracking the current trend status for Spectra Energy and will alert subscribers who have SE in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders Spectra Energy