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Look for Shares of Clovis Oncology to Potentially Pullback after Yesterday's 60.58% Rise

By David Diaz

Clovis Oncology (NASDAQ:CLVS) traded in a range yesterday that spanned from a low of $4.29 to a high of $5.09. Yesterday, the shares gained 60.6%, which took the trading range above the 3-day high of $4.48 on volume of 4.6 million 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, Clovis Oncology share prices have been bracketed by a low of $2.93 and a high of $32.05 and are now at $5.01, 71% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.5% while the 50-day MA has declined 3.8%.

SmarTrend is tracking the current trend status for Clovis Oncology and will alert subscribers who have CLVS in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders clovis oncology

Ticker(s): CLVS