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Watch for CME Group to Potentially Pullback After Gaining 1.76% Yesterday
Feb 27, 2013 (SmarTrend(R) News Watch via COMTEX) --
CME Group (NYSE:CME) traded in a range yesterday that spanned from a low of $58.55 to a high of $60.06. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $59.25 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.
In the past 52 weeks, shares of CME Group have traded between a low of $49.54 and a high of $60.92 and are now at $60.02, which is 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of CME Group on January 7th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.53. Since that recommendation, shares of CME Group have risen 10.2%. We continue to monitor CME for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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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