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Watch for Conagra Brands I to Potentially Pullback After Gaining 1.73% Yesterday

By David Diaz

Conagra Brands I (NYSE:CAG) traded in a range yesterday that spanned from a low of $32.88 to a high of $33.48. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $32.96 on volume of 1.4 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 its subscribers protect gains by selling shares of Conagra Brands I on November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $35.55. Since that call, shares of Conagra Brands I have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Conagra Brands I share prices have moved between a 52-week high of $41.68 and a 52-week low of $32.16 and are now trading 4% above that low price at $33.35 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

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Ticker(s): CAG