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After Yesterday's Rally of 3.19% Shares Could Potentially Pullback

By Shiri Gupta

Lamar Advertising (NASDAQ:LAMR) traded in a range yesterday that spanned from a low of $60.39 to a high of $63.15. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $61.69 on volume of 745,000 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 Lamar Advertising have traded between a low of $49.73 and a high of $69.35 and are now at $62.92, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Lamar Advertising on August 9th, 2016 by issuing a Downtrend alert when the shares were trading at $64.25. Since that call, shares of Lamar Advertising have fallen 5.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lamar advertising

Ticker(s): LAMR