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PerkinElmer Rises 5.14% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

PerkinElmer (NYSE:PKI) traded in a range yesterday that spanned from a low of $64.75 to a high of $67.09. Yesterday, the shares gained 5.1%, which took the trading range above the 3-day high of $64.38 on volume of 1.1 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, PerkinElmer has traded in a range of $39.50 to $67.09 and is now at $66.76, 69% above that low. Over the last five market days, 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 PerkinElmer on December 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.81. Since that recommendation, shares of PerkinElmer have risen 18.1%. We continue to monitor PKI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders perkinelmer

Ticker(s): PKI