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SmarTrend Watching for Potential Pullback in Shares of Aetna After 2.92% Gain

By Amy Schwartz

Aetna (NYSE:AET) traded in a range yesterday that spanned from a low of $110.25 to a high of $111.98. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $111.06 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Aetna share prices have been bracketed by a low of $92.42 and a high of $134.40 and are now at $111.79, 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Aetna on August 31st, 2016 by issuing a Downtrend alert when the shares were trading at $116.67. Since that call, shares of Aetna have fallen 7.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Aetna

Ticker(s): AET