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After Yesterday's Rally of 2.21% Shares Could Potentially Pullback

By Shiri Gupta

Signet Jewelers (NYSE:SIG) traded in a range yesterday that spanned from a low of $82.27 to a high of $84.80. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $82.91 on volume of 530,000 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 Signet Jewelers have traded between a low of $77.00 and a high of $152.27 and are now at $84.21, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.57% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Signet Jewelers on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $115.07. Since that call, shares of Signet Jewelers have fallen 28.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders signet jewelers

Ticker(s): SIG