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SmarTrend Watching for Potential Pullback in Shares of Fomento Economico Mexicano After 1.06% Gain

By Shiri Gupta

Fomento Economico Mexicano (NYSE:FMX) traded in a range yesterday that spanned from a low of $87.54 to a high of $88.98. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $87.76 on volume of 406,000 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 its subscribers protect gains by selling shares of Fomento Economico Mexicano on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $95.89. Since that call, shares of Fomento Economico Mexicano have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Fomento Economico Mexicano share prices have moved between a 52-week high of $102.72 and a 52-week low of $77.47 and are now trading 14% above that low price at $88.20 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

Keywords: rebounders fomento economico mexicano

Ticker(s): FMX