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After Yesterday's Rally of 2.43% Shares Could Potentially Pullback

By James Quinn

Echostar Corp-A (NASDAQ:SATS) traded in a range yesterday that spanned from a low of $52.37 to a high of $54.23. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $52.40 on volume of 194,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Echostar Corp-A has traded in a range of $36.43 to $62.50 and is now at $53.38, 47% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Echostar Corp-A on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $57.53. Since that call, shares of Echostar Corp-A have fallen 9.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders echostar corp-a

Ticker(s): SATS