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Mead Johnson Nutrition Rises 1.66% on Heavy Volume: Watch For Potential Pullback
Jan 03, 2013 (SmarTrend(R) News Watch via COMTEX) --
Mead Johnson Nutrition (NYSE:MJN) traded in a range yesterday that spanned from a low of $68.09 to a high of $70.30. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $68.83 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Mead Johnson Nutrition on October 10th, 2012 by issuing a Downtrend alert when the shares were trading at $71.54. Since that call, shares of Mead Johnson Nutrition have fallen 3.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, Mead Johnson Nutrition share prices have been bracketed by a low of $61.27 and a high of $88.72 and are now at $69.95, 14% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.42% lower over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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