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Watch for Envestnet Inc to Potentially Pullback After Gaining 5.17% Yesterday

By Amy Schwartz

Envestnet Inc (NYSE:ENV) traded in a range yesterday that spanned from a low of $52.80 to a high of $57.79. Yesterday, the shares gained 5.2%, which took the trading range above the 3-day high of $53.25 on volume of 395,000 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, Envestnet Inc share prices have been bracketed by a low of $47.45 and a high of $64.80 and are now at $56.10, 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Envestnet Inc on October 10th, 2018 by issuing a Downtrend alert when the shares were trading at $58.84. Since that call, shares of Envestnet Inc have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders envestnet inc

Ticker(s): ENV