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SmarTrend Watching for Potential Pullback in Shares of Spectra Energy After 1.88% Gain
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.
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.
Over the past year, Spectra Energy has traded in a range of $26.55 to $32.27 and is now at $27.70, 4% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.
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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