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Look for Shares of Lear Corp to Potentially Pullback after Yesterday's 1.54% Rise

By Amy Schwartz

Lear Corp (NYSE:LEA) traded in a range yesterday that spanned from a low of $158.55 to a high of $161.64. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $161.30 on volume of 495,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Lear Corp has traded in a range of $150.85 to $206.36 and is now at $160.00, 6% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Lear Corp on June 19th, 2018 by issuing a Downtrend alert when the shares were trading at $198.44. Since that call, shares of Lear Corp have fallen 20.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lear corp

Ticker(s): LEA