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ING Groep Set to Possibly Pullback After Yesterday's Rally of 1.03%

By James Quinn

ING Groep (NYSE:ING) traded in a range yesterday that spanned from a low of $17.09 to a high of $17.24. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $17.13 on volume of 2.8 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 subscribers consider buying shares of ING Groep on August 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.41. Since that recommendation, shares of ING Groep have risen 48.8%. We continue to monitor ING for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, ING Groep has traded in a range of $9.26 to $17.50 and is now at $17.15, 85% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.8%.

Keywords: rebounders ING Groep

Ticker(s): ING