After Yesterday's Rally of 4.05% Shares Could Potentially Pullback
PACCAR (NASDAQ:PCAR) traded in a range yesterday that spanned from a low of $56.32 to a high of $58.80. Yesterday, the shares gained 4.0%, which took the trading range above the 3-day high of $56.80 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, PACCAR share prices have been bracketed by a low of $43.46 and a high of $67.17 and are now at $58.25, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of PACCAR on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.01. Since that recommendation, shares of PACCAR have risen 14.4%. We continue to monitor PCAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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