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After Yesterday's Rally of 2.26% Shares Could Potentially Pullback

By Nick Russo

Whole Foods Market (NASDAQ:WFM) traded in a range yesterday that spanned from a low of $36.58 to a high of $38.29. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $37.00 on volume of 6.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Whole Foods Market share prices have moved between a 52-week high of $54.88 and a 52-week low of $27.67 and are now trading 34% above that low price at $37.17 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.4%.

SmarTrend recommended that subscribers consider buying shares of Whole Foods Market on April 7th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.14. Since that recommendation, shares of Whole Foods Market have risen 16.4%. We continue to monitor WFM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Whole Foods Market

Ticker(s): WFM