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Look for Shares of Canadian Pacific Railway to Potentially Pullback after Yesterday's 2.58% Rise

By Nick Russo

Canadian Pacific Railway (NYSE:CP) traded in a range yesterday that spanned from a low of $151.77 to a high of $155.98. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $152.48 on volume of 985,000 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, Canadian Pacific Railway share prices have been bracketed by a low of $97.09 and a high of $197.59 and are now at $153.96, 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Canadian Pacific Railway and will alert subscribers who have CP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders canadian pacific railway

Ticker(s): CP