After Yesterday's Rally of 2.20% Shares Could Potentially Pullback
DaVita (NYSE:DVA) traded in a range yesterday that spanned from a low of $64.94 to a high of $65.99. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $64.85 on volume of 826,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
DaVita share prices have moved between a 52-week high of $84.40 and a 52-week low of $61.36 and are now trading 6% above that low price at $65.03 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.1%.
SmarTrend recommended that its subscribers protect gains by selling shares of DaVita on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $75.31. Since that call, shares of DaVita have fallen 15.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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