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After Yesterday's Rally of 6.65% Shares Could Potentially Pullback
Jan 28, 2013 (SmarTrend(R) News Watch via COMTEX) --
Youku.com (NYSE:YOKU) traded in a range yesterday that spanned from a low of $23.33 to a high of $25.24. Yesterday, the shares gained 6.6%, which took the trading range above the 3-day high of $24.00 on volume of 4.8 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 Youku.com have traded between a low of $13.82 and a high of $32.75 and are now at $24.39, which is 76% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of Youku.com on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.52. Since that recommendation, shares of Youku.com have risen 23.5%. We continue to monitor YOKU 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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