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Watch for Credit Acceptance to Potentially Pullback After Gaining 2.81% Yesterday

By Nick Russo

Credit Acceptance (NASDAQ:CACC) traded in a range yesterday that spanned from a low of $215.00 to a high of $222.44. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $217.08 on volume of 112,000 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 Credit Acceptance on April 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $206.31. Since that recommendation, shares of Credit Acceptance have risen 4.6%. We continue to monitor CACC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Credit Acceptance have traded between a low of $159.43 and a high of $277.98 and are now at $221.27, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

Keywords: rebounders credit acceptance

Ticker(s): CACC