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Watch for Madison Square-A to Potentially Pullback After Gaining 2.52% Yesterday

By David Diaz

Madison Square-A (NYSE:MSG) traded in a range yesterday that spanned from a low of $259.02 to a high of $264.69. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $258.80 on volume of 133,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Madison Square-A has traded in a range of $240.33 to $317.70 and is now at $263.94, 10% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Madison Square-A on August 20th, 2019 by issuing a Downtrend alert when the shares were trading at $274.15. Since that call, shares of Madison Square-A have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders madison square-a

Ticker(s): MSG