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SmarTrend Watching for Potential Pullback in Shares of Community Health After 19.11% Gain

By David Diaz

Community Health (NYSE:CYH) traded in a range yesterday that spanned from a low of $6.10 to a high of $7.36. Yesterday, the shares gained 19.1%, which took the trading range above the 3-day high of $6.60 on volume of 10.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Community Health share prices have moved between a 52-week high of $13.90 and a 52-week low of $4.15 and are now trading 75% above that low price at $7.25 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 2.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Community Health on July 27th, 2017 by issuing a Downtrend alert when the shares were trading at $7.27. Since that call, shares of Community Health have fallen 16.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders community health

Ticker(s): CYH