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American Electri Set to Possibly Pullback After Yesterday's Rally of 1.18%

By David Diaz

American Electri (NYSE:AEP) traded in a range yesterday that spanned from a low of $83.20 to a high of $83.96. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $83.61 on volume of 4.3 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, American Electri share prices have been bracketed by a low of $62.71 and a high of $83.96 and are now at $83.96, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of American Electri on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.92. Since that recommendation, shares of American Electri have risen 9.3%. We continue to monitor AEP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders american electri

Ticker(s): AEP