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Possible Trend Reversal, Nestle Down on Heavy Volume (NSRGY)

By Shiri Gupta

Shares of Nestle are trading up 21.1% to $83.99 today on above average volume. Approximately 1.4 million shares have changed hands today vs. average 30-day volume of 690,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that subscribers consider buying shares of Nestle on May 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.32. Since that recommendation, shares of Nestle have risen 5.7%. We continue to monitor NSRGY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Nestle share prices have moved between a 52-week high of $84.07 and a 52-week low of $66.08 and are now trading 27% above that low price at $83.99 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Keywords: unusual volume nestle

Ticker(s): NSRGY