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TMCNet: After Yesterday's Rally of 1.00% Shares Could Potentially Pullback

[April 13, 2012]

After Yesterday's Rally of 1.00% Shares Could Potentially Pullback

Apr 13, 2012 (SmarTrend(R) News Watch via COMTEX) -- Public Service Enterprise Group (NYSE:PEG) traded in a range yesterday that spanned from a low of $29.37 to a high of $29.99. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $29.50 on volume of 4.0 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 Public Service Enterprise Group have traded between a low of $27.97 and a high of $35.48 and are now at $29.70, which is 6% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Public Service Enterprise Group on January 11th, 2012 by issuing a Downtrend alert when the shares were trading at $31.36. Since that call, shares of Public Service Enterprise Group have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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