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Look for Shares of Valspar to Potentially Pullback after Yesterday's 4.09% Rise
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Valspar (NYSE:VAL) traded in a range yesterday that spanned from a low of $44.50 to a high of $47.61. Yesterday, the shares gained 4.1%, which took the trading range above the 3-day high of $44.91 on volume of 3.4 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, Valspar has traded in a range of $27.44 to $47.61 and is now at $45.82, 67% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.
SmarTrend recommended that subscribers consider buying shares of Valspar on August 15th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.62. Since that recommendation, shares of Valspar have risen 39.2%. We continue to monitor VAL 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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