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After Yesterday's Decline of 1.74%, MBIA Offers Investors Better Value

By Amy Schwartz

MBIA (NYSE:MBI) traded in a range yesterday that spanned from a low of $8.49 to a high of $8.89. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $8.91 on volume of 3.4 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, MBIA share prices have been bracketed by a low of $4.94 and a high of $11.65 and are now at $8.77, 78% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of MBIA on February 8th, 2017 by issuing a Downtrend alert when the shares were trading at $10.25. Since that call, shares of MBIA have fallen 13.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders mbia

Ticker(s): MBI