After Yesterday's Rally of 6.34% Shares Could Potentially Pullback
Sensient Technologies (NYSE:SXT) traded in a range yesterday that spanned from a low of $71.05 to a high of $75.55. Yesterday, the shares gained 6.3%, which took the trading range above the 3-day high of $71.47 on volume of 487,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Sensient Technologies share prices have moved between a 52-week high of $75.55 and a 52-week low of $52.69 and are now trading 42% above that low price at $74.86 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.
SmarTrend recommended that subscribers consider buying shares of Sensient Technologies on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.15. Since that recommendation, shares of Sensient Technologies have risen 21.1%. We continue to monitor SXT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders sensient technologies