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Watch for Sally Beauty Hol to Potentially Pullback After Gaining 18.25% Yesterday

By Amy Schwartz

Sally Beauty Hol (NYSE:SBH) traded in a range yesterday that spanned from a low of $18.57 to a high of $23.61. Yesterday, the shares gained 18.3%, which took the trading range above the 3-day high of $19.00 on volume of 3.3 million 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 subscribers consider buying shares of Sally Beauty Hol on September 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.16. Since that recommendation, shares of Sally Beauty Hol have risen 16.3%. We continue to monitor SBH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Sally Beauty Hol has traded in a range of $13.72 to $23.61 and is now at $22.91, 67% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has remained constant.

Keywords: rebounders sally beauty hol

Ticker(s): SBH