After Yesterday's Rally of 4.76% Shares Could Potentially Pullback
HCP (NYSE:HCP) traded in a range yesterday that spanned from a low of $35.81 to a high of $36.90. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $35.84 on volume of 7.6 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, HCP share prices have been bracketed by a low of $25.11 and a high of $40.95 and are now at $36.24, 44% above that low price. The 200-day and 50-day moving averages have moved 0.17% lower and 1.47% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of HCP on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.49. Since that recommendation, shares of HCP have risen 9.7%. We continue to monitor HCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.