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Watch for Waters to Potentially Pullback After Gaining 1.12% Yesterday

By Amy Schwartz

Waters (NYSE:WAT) traded in a range yesterday that spanned from a low of $173.96 to a high of $176.66. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $176.05 on volume of 252,000 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, Waters has traded in a range of $112.00 to $176.66 and is now at $176.09, 57% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Waters on February 3rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $145.86. Since that recommendation, shares of Waters have risen 19.6%. We continue to monitor WAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders waters

Ticker(s): WAT