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Flowserve Corp Set to Possibly Pullback After Yesterday's Rally of 1.25%

By David Diaz

Flowserve Corp (NYSE:FLS) traded in a range yesterday that spanned from a low of $49.85 to a high of $50.19. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $50.18 on volume of 79,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Flowserve Corp share prices have moved between a 52-week high of $54.16 and a 52-week low of $39.75 and are now trading 27% above that low price at $50.37 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Flowserve Corp on October 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.89. Since that recommendation, shares of Flowserve Corp have risen 5.6%. We continue to monitor FLS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders flowserve corp

Ticker(s): FLS