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Watch for Raymond James to Potentially Pullback After Gaining 2.68% Yesterday

By Shiri Gupta

Raymond James (NYSE:RJF) traded in a range yesterday that spanned from a low of $94.90 to a high of $96.54. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $94.42 on volume of 446,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Raymond James have traded between a low of $46.30 and a high of $99.26 and are now at $96.32, which is 108% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Raymond James on April 30th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $90.85. Since that recommendation, shares of Raymond James have risen 3.4%. We continue to monitor RJF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Raymond James

Ticker(s): RJF