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After Yesterday's Rally of 2.19% Shares Could Potentially Pullback

By Shiri Gupta

Costar Group Inc (NASDAQ:CSGP) traded in a range yesterday that spanned from a low of $274.34 to a high of $279.40. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $274.24 on volume of 110,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Costar Group Inc on January 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $199.36. Since that recommendation, shares of Costar Group Inc have risen 36.9%. We continue to monitor CSGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Costar Group Inc has traded in a range of $179.22 to $279.37 and is now at $278.99, 56% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

Keywords: rebounders costar group inc

Ticker(s): CSGP