Community Health Systems Rises 1.65% on Heavy Volume: Watch For Potential Pullback
Community Health Systems (NYSE:CYH) traded in a range yesterday that spanned from a low of $10.88 to a high of $11.34. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $10.97 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Community Health Systems on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $14.14. Since that call, shares of Community Health Systems have fallen 22.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of Community Health Systems have traded between a low of $9.66 and a high of $65.00 and are now at $11.20, which is 16% above that low price. The 200-day and 50-day moving averages have moved 2.78% lower and 0.20% higher over the past week, respectively.
Keywords: rebounders Community Health Systems