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Watch for Perkinelmer Inc to Potentially Pullback After Gaining 1.26% Yesterday

By James Quinn

Perkinelmer Inc (NYSE:PKI) traded in a range yesterday that spanned from a low of $93.24 to a high of $94.28. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $94.00 on volume of 358,000 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, Perkinelmer Inc has traded in a range of $70.83 to $98.33 and is now at $93.97, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Perkinelmer Inc on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.96. Since that recommendation, shares of Perkinelmer Inc have risen 16.5%. We continue to monitor PKI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders perkinelmer inc

Ticker(s): PKI