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SmarTrend Watching for Potential Pullback in Shares of Credit Suisse Group After 3.32% Gain

By David Diaz

Credit Suisse Group (NYSE:CS) traded in a range yesterday that spanned from a low of $13.93 to a high of $14.06. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $13.76 on volume of 4.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Credit Suisse Group share prices have been bracketed by a low of $10.01 and a high of $29.99 and are now at $13.95, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 1.3%.

SmarTrend is monitoring the recent change of momentum in Credit Suisse Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Credit Suisse Group in search of a potential trend change.

Keywords: rebounders credit suisse group

Ticker(s): CS