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SmarTrend Watching for Potential Pullback in Shares of Discovery Communications After 1.64% Gain

By James Quinn

Discovery Communications (NASDAQ:DISCA) traded in a range yesterday that spanned from a low of $27.03 to a high of $27.60. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $27.30 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, Discovery Communications has traded in a range of $23.74 to $34.94 and is now at $27.55, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.

SmarTrend is tracking the current trend status for Discovery Communications and will alert subscribers who have DISCA in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Discovery Communications

Ticker(s): DISCA