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Nordic American Rises 10.78% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Nordic American (NYSE:NAT) traded in a range yesterday that spanned from a low of $2.01 to a high of $2.30. Yesterday, the shares gained 10.8%, which took the trading range above the 3-day high of $2.11 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.

SmarTrend is monitoring the recent change of momentum in Nordic American. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nordic American in search of a potential trend change.

Over the past year, Nordic American has traded in a range of $1.81 to $3.47 and is now at $2.28, 26% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders nordic american

Ticker(s): NAT