After Yesterday's Rally of 2.60% Shares Could Potentially Pullback
Coca-Cola Enterprises (NYSE:CCE) traded in a range yesterday that spanned from a low of $39.66 to a high of $40.37. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $39.32 on volume of 2.1 million 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 Coca-Cola Enterprises have traded between a low of $33.67 and a high of $54.54 and are now at $40.33, which is 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Coca-Cola Enterprises on May 18th, 2016 by issuing a Downtrend alert when the shares were trading at $51.23. Since that call, shares of Coca-Cola Enterprises have fallen 23.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders coca-cola enterprises