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Watch for E*Trade Financia to Potentially Pullback After Gaining 2.51% Yesterday

By Nick Russo

E*Trade Financia (NASDAQ:ETFC) traded in a range yesterday that spanned from a low of $39.44 to a high of $40.15. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $38.99 on volume of 2.1 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 is monitoring the recent change of momentum in E*Trade Financia. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of E*Trade Financia in search of a potential trend change.

Over the past year, E*Trade Financia has traded in a range of $34.68 to $66.46 and is now at $39.95, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 0.2%.

Keywords: rebounders e*trade financia

Ticker(s): ETFC