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After Yesterday's Rally of 4.33% Shares Could Potentially Pullback

By Amy Schwartz

Children'S Place (NASDAQ:PLCE) traded in a range yesterday that spanned from a low of $99.50 to a high of $102.90. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $101.65 on volume of 379,000 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, Children'S Place has traded in a range of $70.90 to $125.30 and is now at $101.65, 43% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Children'S Place on May 25th, 2017 by issuing a Downtrend alert when the shares were trading at $108.59. Since that call, shares of Children'S Place have fallen 10.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders children's place

Ticker(s): PLCE