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Watch for L Brands Inc to Potentially Pullback After Gaining 8.56% Yesterday

By Shiri Gupta

L Brands Inc (NYSE:LB) traded in a range yesterday that spanned from a low of $30.56 to a high of $32.42. Yesterday, the shares gained 8.6%, which took the trading range above the 3-day high of $29.38 on volume of 9.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $30.72, which is 19% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.5%.

SmarTrend is tracking the current trend status for L Brands Inc and will alert subscribers who have LB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders l brands inc

Ticker(s): LB