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Watch for Panera Bread to Potentially Pullback After Gaining 1.70% Yesterday

By David Diaz

Panera Bread (NASDAQ:PNRA) traded in a range yesterday that spanned from a low of $192.50 to a high of $196.49. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $194.19 on volume of 326,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Panera Bread on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $209.05. Since that call, shares of Panera Bread have fallen 8.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Panera Bread share prices have been bracketed by a low of $165.17 and a high of $224.15 and are now at $195.25, 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

Keywords: rebounders panera bread

Ticker(s): PNRA