After Yesterday's Rally of 2.86% Shares Could Potentially Pullback
Jack Henry & Associates (NASDAQ:JKHY) traded in a range yesterday that spanned from a low of $82.02 to a high of $84.90. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $81.94 on volume of 536,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Jack Henry & Associates on August 17th, 2016 by issuing a Downtrend alert when the shares were trading at $86.29. Since that call, shares of Jack Henry & Associates have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Jack Henry & Associates has traded in a range of $60.10 to $89.89 and is now at $84.02, 40% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.
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