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SmarTrend Watching for Potential Pullback in Shares of American Capital After 1.30% Gain
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
American Capital (NASDAQ:ACAS) traded in a range yesterday that spanned from a low of $8.71 to a high of $8.96. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $8.82 on volume of 3.9 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, American Capital has traded in a range of $5.98 to $10.85 and is now at $8.94, 49% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of American Capital on January 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.75. Since that recommendation, shares of American Capital have risen 13.9%. We continue to monitor ACAS 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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