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Pinnacle West Rises 1.73% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Pinnacle West (NYSE:PNW) traded in a range yesterday that spanned from a low of $92.18 to a high of $93.46. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $93.41 on volume of 242,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Pinnacle West share prices have moved between a 52-week high of $99.81 and a 52-week low of $77.19 and are now trading 21% above that low price at $93.23 per share. The 200-day and 50-day moving averages have moved 0.12% higher and 0.17% lower over the past week, respectively.

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

Keywords: rebounders pinnacle west

Ticker(s): PNW