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After Yesterday's Rally of 2.36% Shares Could Potentially Pullback

By James Quinn

Builders FirstSource (NASDAQ:BLDR) traded in a range yesterday that spanned from a low of $11.44 to a high of $11.92. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $11.73 on volume of 784,000 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 Builders FirstSource have traded between a low of $6.50 and a high of $16.69 and are now at $11.78, which is 81% above that low price. The 200-day and 50-day moving averages have moved 0.28% lower and 3.13% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Builders FirstSource on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.14. Since that recommendation, shares of Builders FirstSource have risen 43.0%. We continue to monitor BLDR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders builders firstsource

Ticker(s): BLDR