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Watch for Loews Corp to Potentially Pullback After Gaining 1.03% Yesterday

By Nick Russo

Loews Corp (NYSE:L) traded in a range yesterday that spanned from a low of $50.38 to a high of $50.95. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $50.45 on volume of 694,000 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, Loews Corp share prices have been bracketed by a low of $45.52 and a high of $53.59 and are now at $50.89, 12% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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

Keywords: rebounders Loews Corp

Ticker(s): L