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Look for Shares of Charles River Laboratories to Potentially Pullback after Yesterday's 3.92% Rise
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Charles River Laboratories (NYSE:CRL) traded in a range yesterday that spanned from a low of $35.11 to a high of $37.09. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $35.24 on volume of 2.1 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, Charles River Laboratories has traded in a range of $25.52 to $42.84 and is now at $35.23, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of Charles River Laboratories on January 10th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.80. Since that recommendation, shares of Charles River Laboratories have risen 6.6%. We continue to monitor CRL 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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