Look for Shares of Acuity Brands to Potentially Pullback after Yesterday's 1.76% Rise
Acuity Brands (NYSE:AYI) traded in a range yesterday that spanned from a low of $257.16 to a high of $263.80. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $263.32 on volume of 136,000 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, shares of Acuity Brands have traded between a low of $168.08 and a high of $280.89 and are now at $263.02, which is 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.5%.
SmarTrend is monitoring the recent change of momentum in Acuity Brands. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Acuity Brands in search of a potential trend change.
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