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After Yesterday's Rally of 2.86% Shares Could Potentially Pullback

By Shiri Gupta

Kar Auction Serv (NYSE:KAR) traded in a range yesterday that spanned from a low of $54.60 to a high of $55.70. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $54.30 on volume of 2.5 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, Kar Auction Serv share prices have been bracketed by a low of $43.32 and a high of $64.55 and are now at $55.70, 29% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.15% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Kar Auction Serv and will alert subscribers who have KAR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders kar auction serv

Ticker(s): KAR