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Shake Shack In-A Set to Possibly Pullback After Yesterday's Rally of 1.36%

By James Quinn

Shake Shack In-A (NYSE:SHAK) traded in a range yesterday that spanned from a low of $53.00 to a high of $53.92. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $53.32 on volume of 221,000 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 Shake Shack In-A on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.11. Since that recommendation, shares of Shake Shack In-A have risen 12.7%. We continue to monitor SHAK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Shake Shack In-A has traded in a range of $39.77 to $70.12 and is now at $53.92, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.2%.

Keywords: rebounders shake shack in-a

Ticker(s): SHAK