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

By James Quinn

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.

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.

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. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders flowserve corp

Ticker(s): FLS