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Wageworks Set to Possibly Pullback After Yesterday's Rally of 29.33%

By David Diaz

Wageworks (NYSE:WAGE) traded in a range yesterday that spanned from a low of $38.52 to a high of $38.63. Yesterday, the shares gained 29.3%, which took the trading range above the 3-day high of $30.39 on volume of 3.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Wageworks share prices have moved between a 52-week high of $56.80 and a 52-week low of $25.15 and are now trading 54% above that low price at $38.63 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.6%.

Keywords: rebounders wageworks

Ticker(s): WAGE