SmarTrend Watching for Potential Pullback in Shares of Amphenol After 2.02% Gain
Amphenol (NYSE:APH) traded in a range yesterday that spanned from a low of $64.12 to a high of $65.33. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $64.12 on volume of 1.1 million 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, Amphenol has traded in a range of $44.50 to $65.79 and is now at $64.59, 45% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Amphenol on July 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.24. Since that recommendation, shares of Amphenol have risen 6.7%. We continue to monitor APH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amphenol