After Yesterday's Rally of 2.92% Shares Could Potentially Pullback
Dynegy (NYSE:DYN) traded in a range yesterday that spanned from a low of $12.75 to a high of $13.52. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $13.27 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Dynegy have traded between a low of $7.20 and a high of $34.65 and are now at $13.21, which is 83% above that low price. The 200-day and 50-day moving averages have moved 1.28% lower and 5.77% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Dynegy on August 1st, 2016 by issuing a Downtrend alert when the shares were trading at $14.98. Since that call, shares of Dynegy have fallen 14.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders dynegy