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SmarTrend Watching for Potential Pullback in Shares of Renewable Energy After 2.19% Gain

By Amy Schwartz

Renewable Energy (NASDAQ:REGI) traded in a range yesterday that spanned from a low of $27.27 to a high of $27.92. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $27.81 on volume of 157,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Renewable Energy share prices have moved between a 52-week high of $32.52 and a 52-week low of $9.50 and are now trading 184% above that low price at $26.97 per share. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has remained constant.

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

Keywords: rebounders renewable energy

Ticker(s): REGI