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Athenahealth Inc Falls 2.51% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Athenahealth Inc (NASDAQ:ATHN) traded in a range yesterday that spanned from a low of $120.99 to a high of $124.65. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $123.27 on volume of 294,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Athenahealth Inc share prices have moved between a 52-week high of $163.94 and a 52-week low of $116.77 and are now trading 5% above that low price at $122.39 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Athenahealth Inc on September 10th, 2018 by issuing a Downtrend alert when the shares were trading at $145.53. Since that call, shares of Athenahealth Inc have fallen 14.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders athenahealth inc

Ticker(s): ATHN