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After Yesterday's Rally of 2.62% Shares Could Potentially Pullback

By Nick Russo

Children'S Place (NASDAQ:PLCE) traded in a range yesterday that spanned from a low of $129.70 to a high of $133.00. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $132.30 on volume of 197,000 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, Children'S Place has traded in a range of $98.20 to $161.65 and is now at $131.90, 34% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

SmarTrend is tracking the current trend status for Children'S Place and will alert subscribers who have PLCE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders children's place

Ticker(s): PLCE