SmarTrend Watching for Potential Pullback in Shares of Universal Health Services After 2.18% Gain
Universal Health Services (NYSE:UHS) traded in a range yesterday that spanned from a low of $124.18 to a high of $126.29. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $125.35 on volume of 530,000 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, Universal Health Services share prices have been bracketed by a low of $100.82 and a high of $148.57 and are now at $126.23, 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.
SmarTrend recommended that its subscribers protect gains by selling shares of Universal Health Services on July 27th, 2016 by issuing a Downtrend alert when the shares were trading at $128.83. Since that call, shares of Universal Health Services have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders universal health services