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Watch for Independence Rea to Potentially Pullback After Gaining 5.19% Yesterday

By Nick Russo

Independence Rea (NYSE:IRT) traded in a range yesterday that spanned from a low of $15.85 to a high of $16.63. Yesterday, the shares gained 5.2%, which took the trading range above the 3-day high of $15.87 on volume of 209,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, Independence Rea has traded in a range of $9.91 to $16.63 and is now at $16.62, 68% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

Keywords: rebounders independence rea

Ticker(s): IRT