Electronic Arts Set to Possibly Pullback After Yesterday's Rally of 2.43%
Electronic Arts (NASDAQ:EA) traded in a range yesterday that spanned from a low of $83.11 to a high of $84.33. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $83.98 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Electronic Arts share prices have moved between a 52-week high of $86.07 and a 52-week low of $53.01 and are now trading 59% above that low price at $84.27 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of Electronic Arts on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.92. Since that recommendation, shares of Electronic Arts have risen 4.3%. We continue to monitor EA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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