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Watch for Allstate Corp to Potentially Pullback After Gaining 1.18% Yesterday

By Shiri Gupta

Allstate Corp (NYSE:ALL) traded in a range yesterday that spanned from a low of $94.12 to a high of $94.96. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $94.75 on volume of 847,000 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, shares of Allstate Corp have traded between a low of $77.00 and a high of $102.73 and are now at $94.96, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Allstate Corp on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.06. Since that recommendation, shares of Allstate Corp have risen 11.6%. We continue to monitor ALL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders allstate corp

Ticker(s): ALL