Laboratory Corp of America Holdings Set to Possibly Pullback After Yesterday's Rally of 1.89%
Laboratory Corp of America Holdings (NYSE:LH) traded in a range yesterday that spanned from a low of $122.29 to a high of $127.45. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $122.02 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Laboratory Corp of America Holdings share prices have moved between a 52-week high of $129.33 and a 52-week low of $97.79 and are now trading 27% above that low price at $123.93 per share. The 200-day and 50-day moving averages have moved 0.01% lower and 1.37% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.55. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 10.2%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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