After Yesterday's Rally of 2.19% Shares Could Potentially Pullback
Jack in the Box (NASDAQ:JACK) traded in a range yesterday that spanned from a low of $82.65 to a high of $85.03. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $84.34 on volume of 386,000 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, Jack in the Box has traded in a range of $61.78 to $99.99 and is now at $84.65, 37% above that low. The 200-day and 50-day moving averages have moved 0.63% lower and 0.33% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Jack in the Box on May 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.57. Since that recommendation, shares of Jack in the Box have risen 12.4%. We continue to monitor JACK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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