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SLM Rises 1.73% on Heavy Volume: Watch For Potential Pullback
Mar 12, 2013 (SmarTrend(R) News Watch via COMTEX) --
SLM (NYSE:SLM) traded in a range yesterday that spanned from a low of $19.21 to a high of $19.79. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $19.67 on volume of 4.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, SLM has traded in a range of $12.85 to $20.13 and is now at $19.75, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.6%.
SmarTrend recommended that subscribers consider buying shares of SLM on June 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.59. Since that recommendation, shares of SLM have risen 33.0%. We continue to monitor SLM 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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