SmarTrend Watching for Potential Pullback in Shares of EMC After 1.92% Gain
EMC (NYSE:EMC) traded in a range yesterday that spanned from a low of $27.95 to a high of $28.14. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $27.69 on volume of 22.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
EMC share prices have moved between a 52-week high of $28.77 and a 52-week low of $22.66 and are now trading 24% above that low price at $28.06 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of EMC on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.04. Since that recommendation, shares of EMC have risen 5.8%. We continue to monitor EMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.