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Watch for Amc Networks-A to Potentially Pullback After Gaining 3.26% Yesterday

By Amy Schwartz

Amc Networks-A (NASDAQ:AMCX) traded in a range yesterday that spanned from a low of $62.12 to a high of $64.91. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $62.73 on volume of 1.0 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 recommended that subscribers consider buying shares of Amc Networks-A on March 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.79. Since that recommendation, shares of Amc Networks-A have risen 14.6%. We continue to monitor AMCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Amc Networks-A has traded in a range of $46.89 to $67.44 and is now at $63.56, 36% above that low. The 200-day and 50-day moving averages have moved 0.04% higher and 1.13% higher over the past week, respectively.

Keywords: rebounders amc networks-a

Ticker(s): AMCX