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After Yesterday's Rally of 1.88% Shares Could Potentially Pullback
Jan 29, 2013 (SmarTrend(R) News Watch via COMTEX) --
Spectra Energy (NYSE:SE) traded in a range yesterday that spanned from a low of $27.17 to a high of $27.73. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $27.52 on volume of 6.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Spectra Energy share prices have been bracketed by a low of $26.55 and a high of $32.27 and are now at $27.70, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Spectra Energy on November 5th, 2012 by issuing a Downtrend alert when the shares were trading at $28.15. Since that call, shares of Spectra Energy have fallen 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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