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Look for Shares of Deutsche Bank to Potentially Pullback after Yesterday's 2.12% Rise
Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) --
Deutsche Bank (NYSE:DB) traded in a range yesterday that spanned from a low of $43.71 to a high of $44.79. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $43.98 on volume of 1.4 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, Deutsche Bank has traded in a range of $27.03 to $52.54 and is now at $44.37, 64% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
SmarTrend is tracking the current trend status for Deutsche Bank and will alert subscribers who have DB in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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