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American Electri Falls 1.01% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

American Electri (NYSE:AEP) traded in a range yesterday that spanned from a low of $70.33 to a high of $71.32. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $70.91 on volume of 1.2 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, American Electri share prices have been bracketed by a low of $62.70 and a high of $78.07 and are now at $70.80, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in American Electri. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of American Electri in search of a potential trend change.

Keywords: rebounders american electri

Ticker(s): AEP