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Omnicom Group Rises 2.14% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Omnicom Group (NYSE:OMC) traded in a range yesterday that spanned from a low of $74.34 to a high of $76.12. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $75.79 on volume of 782,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Omnicom Group share prices have moved between a 52-week high of $84.16 and a 52-week low of $65.32 and are now trading 16% above that low price at $76.02 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Omnicom Group and will alert subscribers who have OMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Omnicom Group

Ticker(s): OMC