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SmarTrend Watching for Potential Pullback in Shares of B&G Foods Inc After 2.04% Gain

By Amy Schwartz

B&G Foods Inc (NYSE:BGS) traded in a range yesterday that spanned from a low of $34.30 to a high of $35.17. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $34.40 on volume of 461,000 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, B&G Foods Inc has traded in a range of $33.05 to $52.84 and is now at $35.13, 6% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of B&G Foods Inc on June 16th, 2017 by issuing a Downtrend alert when the shares were trading at $38.06. Since that call, shares of B&G Foods Inc have fallen 9.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders b&g foods inc

Ticker(s): BGS