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POSCO Rises 3.89% on Heavy Volume: Watch For Potential Pullback

By David Diaz

POSCO (NYSE:PKX) traded in a range yesterday that spanned from a low of $65.72 to a high of $66.63. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $65.15 on volume of 195,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of POSCO on January 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.18. Since that recommendation, shares of POSCO have risen 14.0%. We continue to monitor PKX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of POSCO have traded between a low of $30.97 and a high of $66.62 and are now at $66.52, which is 115% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.3%.

Keywords: rebounders posco

Ticker(s): PKX