Jan 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- ResMed (NYSE:RMD) traded in a range yesterday that spanned from a low of $46.86 to a high of $48.47. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $45.62 on volume of 3.3 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 ResMed have traded between a low of $26.03 and a high of $48.47 and are now at $48.31, which is 86% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of ResMed on August 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.25. Since that recommendation, shares of ResMed have risen 29.0%. We continue to monitor RMD 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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