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SmarTrend Watching for Potential Pullback in Shares of Cbs Corp-B After 1.53% Gain

By Amy Schwartz

Cbs Corp-B (NYSE:CBS) traded in a range yesterday that spanned from a low of $48.20 to a high of $49.07. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $48.75 on volume of 539,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Cbs Corp-B share prices have moved between a 52-week high of $59.59 and a 52-week low of $41.38 and are now trading 19% above that low price at $49.04 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cbs Corp-B on May 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $49.87. Since that call, shares of Cbs Corp-B have fallen 3.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders cbs corp-b

Ticker(s): CBS