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Cinemark Holding Set to Possibly Pullback After Yesterday's Rally of 1.58%

By David Diaz

Cinemark Holding (NYSE:CNK) traded in a range yesterday that spanned from a low of $39.96 to a high of $40.59. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $40.55 on volume of 350,000 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, Cinemark Holding has traded in a range of $33.36 to $43.51 and is now at $40.59, 22% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend is monitoring the recent change of momentum in Cinemark Holding. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cinemark Holding in search of a potential trend change.

Keywords: rebounders cinemark holding

Ticker(s): CNK