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Look for Shares of Philips Electronic to Potentially Pullback after Yesterday's 6.06% Rise

By Amy Schwartz

Philips Electronic (NYSE:PHG) traded in a range yesterday that spanned from a low of $37.69 to a high of $37.99. Yesterday, the shares gained 6.1%, which took the trading range above the 3-day high of $36.35 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Philips Electronic share prices have moved between a 52-week high of $37.99 and a 52-week low of $23.00 and are now trading 65% above that low price at $37.84 per share. The 200-day and 50-day moving averages have moved 0.03% higher and 0.52% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Philips Electronic on March 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.67. Since that recommendation, shares of Philips Electronic have risen 16.5%. We continue to monitor PHG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders philips electronic

Ticker(s): PHG