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Watch for Lyondellbasell-A to Potentially Pullback After Gaining 1.51% Yesterday

By David Diaz

Lyondellbasell-A (NYSE:LYB) traded in a range yesterday that spanned from a low of $104.62 to a high of $106.52. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $105.25 on volume of 654,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Lyondellbasell-A share prices have moved between a 52-week high of $121.95 and a 52-week low of $69.82 and are now trading 52% above that low price at $106.19 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Lyondellbasell-A on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $114.68. Since that call, shares of Lyondellbasell-A have fallen 8.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lyondellbasell-a

Ticker(s): LYB