After Yesterday's Rally of 5.03% Shares Could Potentially Pullback
Convergys (NYSE:CVG) traded in a range yesterday that spanned from a low of $28.34 to a high of $29.96. Yesterday, the shares gained 5.0%, which took the trading range above the 3-day high of $27.54 on volume of 889,000 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, shares of Convergys have traded between a low of $20.57 and a high of $29.96 and are now at $28.73, which is 40% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.
SmarTrend recommended that subscribers consider buying shares of Convergys on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.47. Since that recommendation, shares of Convergys have risen 3.0%. We continue to monitor CVG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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