• Return to Headlines

Flowserve Corp Set to Possibly Pullback After Yesterday's Rally of 3.00%

By David Diaz

Flowserve Corp (NYSE:FLS) traded in a range yesterday that spanned from a low of $53.90 to a high of $55.15. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $53.76 on volume of 562,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Flowserve Corp share prices have been bracketed by a low of $37.71 and a high of $55.15 and are now at $54.91, 46% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 1.68% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Flowserve Corp on July 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.11. Since that recommendation, shares of Flowserve Corp have risen 23.6%. 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