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After Yesterday's Decline of 7.84%, Mcdermott Intl Offers Investors Better Value

By Nick Russo

Mcdermott Intl (NYSE:MDR) traded in a range yesterday that spanned from a low of $8.72 to a high of $9.43. Yesterday, the shares fell 7.8%, which took the trading range below the 3-day low of $9.43 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.

Mcdermott Intl share prices have moved between a 52-week high of $23.36 and a 52-week low of $5.38 and are now trading 65% above that low price at $8.90 per share. The 200-day and 50-day moving averages have moved 0.21% higher and 4.66% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Mcdermott Intl on October 15th, 2018 by issuing a Downtrend alert when the shares were trading at $15.92. Since that call, shares of Mcdermott Intl have fallen 39.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders mcdermott intl

Ticker(s): MDR