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Conagra Brands I Rises 2.52% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Conagra Brands I (NYSE:CAG) traded in a range yesterday that spanned from a low of $34.00 to a high of $34.92. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $34.49 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.

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 4.2%. 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 Conagra Brands I have traded between a low of $32.93 and a high of $41.68 and are now at $34.86, which is 6% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Keywords: rebounders conagra brands i

Ticker(s): CAG