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Chefs Warehouse Rises 1.14% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Chefs Warehouse (NASDAQ:CHEF) traded in a range yesterday that spanned from a low of $38.52 to a high of $39.47. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $39.40 on volume of 65,000 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, Chefs Warehouse share prices have been bracketed by a low of $29.73 and a high of $42.06 and are now at $38.99, 31% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend is tracking the current trend status for Chefs Warehouse and will alert subscribers who have CHEF in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders chefs warehouse

Ticker(s): CHEF