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Cabelas Rallies Again On Report Of Possible Sale

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Courtesy of Benzinga.

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Cabelas Inc (NYSE: CAB) shares are trading higher by $3.90 at $45.65 in Friday’s session. Once again, the rumor mill has the issue trading higher as there is renewed speculation that the company may be for sale.

After a higher open, it continued to rally but found resistance in a familiar area. Back on October 8, a rally stalled at $47.33 and stood in place as the issue swooned to $33.03 on October 3. In today’s session, the rally was halted $47.35 and now the issue has retreated under $46.

Joel Elconin is the co-host of Benzinga’s #PreMarket Prep, a daily trading idea radio show.

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com

Posted-In: Premarket outlookTechnicals Intraday Update Movers Trading Ideas

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