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Look for Shares of POSCO to Potentially Pullback after Yesterday's 3.89% Rise

By James Quinn

POSCO (NYSE:PKX) traded in a range yesterday that spanned from a low of $65.72 to a high of $66.63. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $65.15 on volume of 195,000 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 POSCO on January 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.18. Since that recommendation, shares of POSCO have risen 14.0%. We continue to monitor PKX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, POSCO has traded in a range of $30.97 to $66.62 and is now at $66.52, 115% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.4%.

Keywords: rebounders posco

Ticker(s): PKX