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Watch for Benefitfocus Inc to Potentially Pullback After Gaining 2.35% Yesterday

By David Diaz

Benefitfocus Inc (NASDAQ:BNFT) traded in a range yesterday that spanned from a low of $19.73 to a high of $20.39. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $20.27 on volume of 160,000 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 Benefitfocus Inc have traded between a low of $19.25 and a high of $60.66 and are now at $20.27, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Benefitfocus Inc on September 30th, 2019 by issuing a Downtrend alert when the shares were trading at $23.73. Since that call, shares of Benefitfocus Inc have fallen 16.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders benefitfocus inc

Ticker(s): BNFT