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After Yesterday's Rally of 3.52% Shares Could Potentially Pullback

By Amy Schwartz

E*Trade Financia (NASDAQ:ETFC) traded in a range yesterday that spanned from a low of $54.73 to a high of $55.83. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $54.38 on volume of 2.1 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, E*Trade Financia has traded in a range of $21.52 to $66.46 and is now at $55.62, 158% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of E*Trade Financia on June 27th, 2018 by issuing a Downtrend alert when the shares were trading at $61.95. Since that call, shares of E*Trade Financia have fallen 13.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders e*trade financia

Ticker(s): ETFC