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Watch for Continued Losses in Shares of Corecivic Inc (CXW)

By Amy Schwartz

Corecivic Inc (NYSE:CXW) traded at a new 52-week low today of $16.40. So far today approximately 228,000 shares have been exchanged, as compared to an average 30-day volume of 1 million shares.

Corecivic Inc has overhead space with shares priced $16.40, or 31.7% below the average consensus analyst price target of $24.00. Corecivic Inc shares should first meet resistance at the 200-day moving average (MA) of $20.90 and find additional resistance at the 50-day MA of $21.33.

CoreCivic, Inc. provides detention and corrections services to governmental agencies. The Company designs, constructs, owns, manages, and renovates jails, prisons, government agencies, and inmate transportation companies. CoreCivic conducts its business throughout the United States.

In the past 52 weeks, Corecivic Inc share prices have been bracketed by a current low of $16.40 and a high of $26.09 and are now at $16.40. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Corecivic Inc on June 25th, 2019 by issuing a Downtrend alert when the shares were trading at $21.97. Since that call, shares of Corecivic Inc have fallen 24.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows corecivic inc

Ticker(s): CXW