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Omnicom Group Set to Possibly Pullback After Yesterday's Rally of 1.54%

By James Quinn

Omnicom Group (NYSE:OMC) traded in a range yesterday that spanned from a low of $74.87 to a high of $76.75. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $74.47 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Omnicom Group has traded in a range of $65.32 to $89.66 and is now at $75.79, 16% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

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