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Spectrum Pharmac Set to Possibly Pullback After Yesterday's Rally of 12.11%

By Nick Russo

Spectrum Pharmac (NASDAQ:SPPI) traded in a range yesterday that spanned from a low of $8.02 to a high of $8.93. Yesterday, the shares gained 12.1%, which took the trading range above the 3-day high of $8.36 on volume of 514,000 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, Spectrum Pharmac share prices have been bracketed by a low of $6.22 and a high of $14.65 and are now at $8.32, 34% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.01% higher over the past week, respectively.

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

Keywords: rebounders spectrum pharmac

Ticker(s): SPPI