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SmarTrend Watching for Potential Pullback in Shares of Sonoco Products After 2.22% Gain

By Amy Schwartz

Sonoco Products (NYSE:SON) traded in a range yesterday that spanned from a low of $53.07 to a high of $54.38. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $53.89 on volume of 267,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Sonoco Products have traded between a low of $34.68 and a high of $55.58 and are now at $54.30, which is 57% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.78% higher over the past week, respectively.

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

Keywords: rebounders sonoco products

Ticker(s): SON