After Yesterday's Rally of 3.56% Shares Could Potentially Pullback
Jabil Circuit (NYSE:JBL) traded in a range yesterday that spanned from a low of $22.62 to a high of $23.42. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $22.58 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Jabil Circuit on May 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.89. Since that recommendation, shares of Jabil Circuit have risen 19.0%. We continue to monitor JBL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Jabil Circuit have traded between a low of $16.78 and a high of $26.00 and are now at $23.33, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.26% lower and 1.48% lower over the past week, respectively.
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