Acadia Healthcare Set to Possibly Rebound After Yesterday's Selloff of 9.80%
Acadia Healthcare (NASDAQ:ACHC) traded in a range yesterday that spanned from a low of $37.96 to a high of $40.85. Yesterday, the shares fell 9.8%, which took the trading range below the 3-day low of $42.47 on volume of 5.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, shares of Acadia Healthcare have traded between the current low of $37.96 and a high of $85.62 and are now at $40.69. The 200-day and 50-day moving averages have moved 0.62% lower and 0.71% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Acadia Healthcare on June 27th, 2016 by issuing a Downtrend alert when the shares were trading at $53.49. Since that call, shares of Acadia Healthcare have fallen 15.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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