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SmarTrend Watching for Potential Pullback in Shares of Flowserve Corp After 3.00% Gain

By Nick Russo

Flowserve Corp (NYSE:FLS) traded in a range yesterday that spanned from a low of $53.90 to a high of $55.15. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $53.76 on volume of 562,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Flowserve Corp on July 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.11. Since that recommendation, shares of Flowserve Corp have risen 23.6%. We continue to monitor FLS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Flowserve Corp have traded between a low of $37.71 and a high of $55.15 and are now at $54.91, which is 46% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 1.68% higher over the past week, respectively.

Keywords: rebounders flowserve corp

Ticker(s): FLS