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Look for Shares of Pandora Media In to Potentially Pullback after Yesterday's 1.57% Rise

By David Diaz

Pandora Media In (NYSE:P) traded in a range yesterday that spanned from a low of $9.22 to a high of $9.50. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $9.25 on volume of 3.6 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, Pandora Media In share prices have been bracketed by a low of $6.76 and a high of $14.98 and are now at $9.37, 39% above that low price. The 200-day and 50-day moving averages have moved 0.72% lower and 0.45% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Pandora Media In on June 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.50. Since that recommendation, shares of Pandora Media In have risen 8.8%. We continue to monitor P for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders pandora media in

Ticker(s): P