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After Yesterday's Rally of 3.54% Shares Could Potentially Pullback

By Shiri Gupta

Amtrust Financial Services (NASDAQ:AFSI) traded in a range yesterday that spanned from a low of $16.78 to a high of $17.63. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $17.55 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Amtrust Financial Services share prices have moved between a 52-week high of $35.94 and a 52-week low of $16.58 and are now trading 6% above that low price at $17.50 per share. The 200-day and 50-day moving averages have moved 0.54% lower and 0.09% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Amtrust Financial Services on January 20th, 2017 by issuing a Downtrend alert when the shares were trading at $26.66. Since that call, shares of Amtrust Financial Services have fallen 36.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders amtrust financial services

Ticker(s): AFSI