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After Yesterday's Rally of 4.46% Shares Could Potentially Pullback

By James Quinn

Whole Foods Market (NASDAQ:WFM) traded in a range yesterday that spanned from a low of $30.16 to a high of $31.72. Yesterday, the shares gained 4.5%, which took the trading range above the 3-day high of $30.45 on volume of 3.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Whole Foods Market share prices have moved between a 52-week high of $54.88 and a 52-week low of $27.67 and are now trading 14% above that low price at $31.52 per share. The 200-day and 50-day moving averages have moved 0.77% lower and 0.45% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Whole Foods Market and will alert subscribers who have WFM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Whole Foods Market

Ticker(s): WFM