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Watch for Chefs Warehouse to Potentially Pullback After Gaining 19.64% Yesterday

By Shiri Gupta

Chefs Warehouse (NASDAQ:CHEF) traded in a range yesterday that spanned from a low of $12.82 to a high of $14.82. Yesterday, the shares gained 19.6%, which took the trading range above the 3-day high of $12.88 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Chefs Warehouse has traded in a range of $3.55 to $42.06 and is now at $14.62, 312% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 4.8%.

SmarTrend is tracking the current trend status for Chefs Warehouse and will alert subscribers who have CHEF in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders chefs warehouse

Ticker(s): CHEF