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Watch for Churchill Downs to Potentially Pullback After Gaining 4.97% Yesterday

By Nick Russo

Churchill Downs (NASDAQ:CHDN) traded in a range yesterday that spanned from a low of $299.02 to a high of $314.60. Yesterday, the shares gained 5.0%, which took the trading range above the 3-day high of $301.60 on volume of 166,000 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 Churchill Downs have traded between a low of $118.88 and a high of $314.60 and are now at $312.30, which is 163% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 0.23% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Churchill Downs on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $249.60. Since that recommendation, shares of Churchill Downs have risen 19.3%. We continue to monitor CHDN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders churchill downs

Ticker(s): CHDN