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Varian Medical S Rises 1.31% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Varian Medical S (NYSE:VAR) traded in a range yesterday that spanned from a low of $96.39 to a high of $98.36. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $97.03 on volume of 368,000 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, Varian Medical S has traded in a range of $76.94 to $107.08 and is now at $98.02, 27% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.

SmarTrend is monitoring the recent change of momentum in Varian Medical S. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Varian Medical S in search of a potential trend change.

Keywords: rebounders varian medical s

Ticker(s): VAR