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.
Over the past year, Universal Health Services has traded in a range of $100.82 to $148.57 and is now at $126.23, 25% above that low. Over the past week, 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