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Watch for L Brands Inc to Potentially Pullback After Gaining 2.81% Yesterday

By James Quinn

L Brands Inc (NYSE:LB) traded in a range yesterday that spanned from a low of $35.33 to a high of $36.92. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $34.96 on volume of 3.6 million 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 L Brands Inc have traded between a low of $25.89 and a high of $63.10 and are now at $35.90, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.8%.

SmarTrend recommended that subscribers consider buying shares of L Brands Inc on September 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.40. Since that recommendation, shares of L Brands Inc have risen 18.6%. We continue to monitor LB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders l brands inc

Ticker(s): LB