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SmarTrend Watching for Potential Pullback in Shares of Goldcorp After 1.22% Gain
Jan 15, 2013 (SmarTrend(R) News Watch via COMTEX) --
Goldcorp (NYSE:GG) traded in a range yesterday that spanned from a low of $36.76 to a high of $37.90. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $37.43 on volume of 5.1 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 Goldcorp on October 15th, 2012 by issuing a Downtrend alert when the shares were trading at $43.06. Since that call, shares of Goldcorp have fallen 14.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Goldcorp has traded in a range of $31.54 to $50.74 and is now at $37.48, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.3%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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