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Watch for Ameriprise Finan to Potentially Pullback After Gaining 1.60% Yesterday

By James Quinn

Ameriprise Finan (NYSE:AMP) traded in a range yesterday that spanned from a low of $147.36 to a high of $148.75. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $147.19 on volume of 436,000 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 Ameriprise Finan on June 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $128.37. Since that recommendation, shares of Ameriprise Finan have risen 13.9%. We continue to monitor AMP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Ameriprise Finan have traded between a low of $84.92 and a high of $148.64 and are now at $148.62, which is 75% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.6%.

Keywords: rebounders ameriprise finan

Ticker(s): AMP