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Amer Eagle Outf Set to Possibly Pullback After Yesterday's Rally of 1.96%

By James Quinn

Amer Eagle Outf (NYSE:AEO) traded in a range yesterday that spanned from a low of $11.73 to a high of $12.10. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $11.95 on volume of 1.4 million 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, Amer Eagle Outf has traded in a range of $10.56 to $19.55 and is now at $11.96, 13% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Amer Eagle Outf on November 30th, 2016 by issuing a Downtrend alert when the shares were trading at $16.51. Since that call, shares of Amer Eagle Outf have fallen 28.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders amer eagle outf

Ticker(s): AEO