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Watch for Pattern Ener to Potentially Pullback After Gaining 6.39% Yesterday

By James Quinn

Pattern Ener (NASDAQ:PEGI) traded in a range yesterday that spanned from a low of $27.28 to a high of $27.50. Yesterday, the shares gained 6.4%, which took the trading range above the 3-day high of $27.42 on volume of 174,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Pattern Ener has traded in a range of $17.52 to $28.50 and is now at $27.49, 57% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.8%.

Keywords: rebounders pattern ener

Ticker(s): PEGI