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After Yesterday's Rally of 3.32% Shares Could Potentially Pullback

By Nick Russo

Global Payments (NYSE:GPN) traded in a range yesterday that spanned from a low of $76.55 to a high of $79.24. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $77.68 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Global Payments has traded in a range of $50.13 to $79.93 and is now at $79.02, 58% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.5%.

SmarTrend is tracking the current trend status for Global Payments and will alert subscribers who have GPN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders global payments

Ticker(s): GPN