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SmarTrend Watching for Potential Pullback in Shares of Edison Intl After 2.90% Gain

By Shiri Gupta

Edison Intl (NYSE:EIX) traded in a range yesterday that spanned from a low of $62.42 to a high of $64.68. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $62.94 on volume of 3.5 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, shares of Edison Intl have traded between a low of $57.63 and a high of $83.38 and are now at $63.82, which is 11% above that low price. The 200-day and 50-day moving averages have moved 0.43% higher and 0.81% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Edison Intl on December 5th, 2017 by issuing a Downtrend alert when the shares were trading at $74.46. Since that call, shares of Edison Intl have fallen 16.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders edison intl

Ticker(s): EIX