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Laboratory Corp of America Holdings Set to Possibly Pullback After Yesterday's Rally of 1.90%

By James Quinn

Laboratory Corp of America Holdings (NYSE:LH) traded in a range yesterday that spanned from a low of $142.27 to a high of $146.13. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $141.90 on volume of 655,000 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, Laboratory Corp of America Holdings has traded in a range of $97.79 to $146.63 and is now at $144.95, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on January 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $130.21. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 9.0%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders laboratory corp of america holdings

Ticker(s): LH