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SmarTrend Watching for Potential Pullback in Shares of Paramount Group After 2.06% Gain

By James Quinn

Paramount Group (NYSE:PGRE) traded in a range yesterday that spanned from a low of $14.59 to a high of $14.85. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $14.60 on volume of 240,000 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, Paramount Group has traded in a range of $12.64 to $15.11 and is now at $14.85, 17% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

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

Keywords: rebounders paramount group

Ticker(s): PGRE