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SmarTrend Watching for Potential Pullback in Shares of Ameriprise Finan After 1.60% Gain

By James Quinn

Ameriprise Finan (NYSE:AMP) traded in a range yesterday that spanned from a low of $147.36 to a high of $148.75. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $147.19 on volume of 436,000 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, Ameriprise Finan has traded in a range of $84.92 to $148.64 and is now at $148.62, 75% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Ameriprise Finan on June 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $128.37. Since that recommendation, shares of Ameriprise Finan have risen 13.9%. We continue to monitor AMP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ameriprise finan

Ticker(s): AMP