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SmarTrend Watching for Potential Pullback in Shares of Teleflex Inc After 1.34% Gain

By James Quinn

Teleflex Inc (NYSE:TFX) traded in a range yesterday that spanned from a low of $315.79 to a high of $320.86. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $316.42 on volume of 87,000 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, Teleflex Inc has traded in a range of $226.02 to $320.86 and is now at $319.66, 41% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Teleflex Inc on May 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $297.72. Since that recommendation, shares of Teleflex Inc have risen 6.1%. We continue to monitor TFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders teleflex inc

Ticker(s): TFX