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Renewable Energy Rises 7.74% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Renewable Energy (NASDAQ:REGI) traded in a range yesterday that spanned from a low of $18.28 to a high of $19.08. Yesterday, the shares gained 7.7%, which took the trading range above the 3-day high of $18.02 on volume of 421,000 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, Renewable Energy has traded in a range of $9.90 to $29.61 and is now at $18.59, 88% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.9%.

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

Keywords: rebounders renewable energy

Ticker(s): REGI