After Yesterday's Rally of 3.95% Shares Could Potentially Pullback
Plains All American Pipeline (NYSE:PAA) traded in a range yesterday that spanned from a low of $28.30 to a high of $29.56. Yesterday, the shares gained 4.0%, which took the trading range above the 3-day high of $28.72 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.
SmarTrend recommended that subscribers consider buying shares of Plains All American Pipeline on April 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.03. Since that recommendation, shares of Plains All American Pipeline have risen 22.0%. We continue to monitor PAA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, Plains All American Pipeline share prices have been bracketed by a low of $14.82 and a high of $50.63 and are now at $29.39, 98% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.4%.
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