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Pinnacle West Rises 1.03% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Pinnacle West (NYSE:PNW) traded in a range yesterday that spanned from a low of $95.26 to a high of $96.13. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $95.83 on volume of 443,000 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, Pinnacle West share prices have been bracketed by a low of $73.41 and a high of $95.99 and are now at $95.99, 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Pinnacle West on January 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.42. Since that recommendation, shares of Pinnacle West have risen 8.8%. We continue to monitor PNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders pinnacle west

Ticker(s): PNW