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Conagra Brands I Rises 1.73% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Conagra Brands I (NYSE:CAG) traded in a range yesterday that spanned from a low of $32.88 to a high of $33.48. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $32.96 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, Conagra Brands I has traded in a range of $32.16 to $41.68 and is now at $33.35, 4% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Conagra Brands I on November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $35.55. Since that call, shares of Conagra Brands I have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders conagra brands i

Ticker(s): CAG