SmarTrend Watching for Potential Pullback in Shares of SM Energy After 1.30% Gain
SM Energy (NYSE:SM) traded in a range yesterday that spanned from a low of $39.19 to a high of $43.09. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $40.73 on volume of 3.4 million 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 SM Energy on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.01. Since that recommendation, shares of SM Energy have risen 29.0%. We continue to monitor SM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of SM Energy have traded between a low of $6.99 and a high of $60.28 and are now at $39.39, which is 464% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 9.0% while the 200-day MA has slid 0.5%.
Keywords: rebounders sm energy