• Return to Headlines

After Yesterday's Rally of 2.84% Shares Could Potentially Pullback

By David Diaz

Mobile Telesystems (NYSE:MBT) traded in a range yesterday that spanned from a low of $11.14 to a high of $11.58. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $11.28 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Mobile Telesystems share prices have moved between a 52-week high of $12.79 and a 52-week low of $5.15 and are now trading 121% above that low price at $11.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Mobile Telesystems on December 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.17. Since that recommendation, shares of Mobile Telesystems have risen 35.6%. We continue to monitor MBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders mobile telesystems

Ticker(s): MBT