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After Yesterday's Rally of 2.60% Shares Could Potentially Pullback

By James Quinn

Universal Health Services (NYSE:UHS) traded in a range yesterday that spanned from a low of $119.29 to a high of $122.00. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $120.28 on volume of 612,000 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, Universal Health Services has traded in a range of $99.72 to $148.57 and is now at $121.02, 21% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend is tracking the current trend status for Universal Health Services and will alert subscribers who have UHS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders universal health services

Ticker(s): UHS