Look for Shares of EMC to Potentially Pullback after Yesterday's 1.92% Rise
EMC (NYSE:EMC) traded in a range yesterday that spanned from a low of $27.95 to a high of $28.14. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $27.69 on volume of 22.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of EMC on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.04. Since that recommendation, shares of EMC have risen 5.8%. We continue to monitor EMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of EMC have traded between a low of $22.66 and a high of $28.77 and are now at $28.06, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.31% higher over the past week, respectively.