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After Yesterday's Rally of 2.20% Shares Could Potentially Pullback

By Amy Schwartz

Wright Medical G (NASDAQ:WMGI) traded in a range yesterday that spanned from a low of $21.01 to a high of $21.55. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $20.94 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Wright Medical G have traded between a low of $19.51 and a high of $32.86 and are now at $21.37, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Wright Medical G on August 8th, 2019 by issuing a Downtrend alert when the shares were trading at $24.67. Since that call, shares of Wright Medical G have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders wright medical g

Ticker(s): WMGI