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L Brands Inc Rises 2.98% on Heavy Volume: Watch For Potential Pullback

By David Diaz

L Brands Inc (NYSE:LB) traded in a range yesterday that spanned from a low of $33.64 to a high of $34.52. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $34.04 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, L Brands Inc has traded in a range of $30.70 to $79.67 and is now at $34.31, 12% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of L Brands Inc on January 4th, 2018 by issuing a Downtrend alert when the shares were trading at $50.79. Since that call, shares of L Brands Inc have fallen 34.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders l brands inc

Ticker(s): LB