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Look for Shares of Spectra Energ to Potentially Pullback after Yesterday's 3.66% Rise

By David Diaz

Spectra Energ (NYSE:SE) traded in a range yesterday that spanned from a low of $31.34 to a high of $33.08. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $31.95 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Spectra Energ have traded between a low of $10.52 and a high of $38.00 and are now at $32.49, which is 209% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.6% while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Spectra Energ on August 21st, 2019 by issuing a Downtrend alert when the shares were trading at $32.64. Since that call, shares of Spectra Energ have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders spectra energ

Ticker(s): SE