Look for Shares of Spectra Energy to Potentially Pullback after Yesterday's 1.70% Rise
Spectra Energy (NYSE:SE) traded in a range yesterday that spanned from a low of $42.81 to a high of $43.56. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $43.00 on volume of 3.4 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 Energy have traded between a low of $21.43 and a high of $44.00 and are now at $43.49, which is 103% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Spectra Energy on January 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.99. Since that recommendation, shares of Spectra Energy have risen 71.4%. We continue to monitor SE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Spectra Energy