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SmarTrend Watching for Potential Pullback in Shares of Wright Medical G After 6.94% Gain

By Amy Schwartz

Wright Medical G (NASDAQ:WMGI) traded in a range yesterday that spanned from a low of $29.01 to a high of $30.75. Yesterday, the shares gained 6.9%, which took the trading range above the 3-day high of $27.92 on volume of 2.3 million 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 Wright Medical G have traded between a low of $15.85 and a high of $31.53 and are now at $29.60, which is 87% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.06% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Wright Medical G on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.84. Since that recommendation, shares of Wright Medical G have risen 16.3%. We continue to monitor WMGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders wright medical g

Ticker(s): WMGI