• Return to Headlines

Banco Bradesco Set to Possibly Rebound After Yesterday's Selloff of 1.60%

By David Diaz

Banco Bradesco (NYSE:BBD) traded in a range yesterday that spanned from a low of $9.83 to a high of $10.11. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $9.94 on volume of 11.2 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, Banco Bradesco share prices have been bracketed by a low of $4.01 and a high of $11.24 and are now at $9.85, 146% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Banco Bradesco on January 3rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.09. Since that recommendation, shares of Banco Bradesco have risen 10.1%. We continue to monitor BBD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders banco bradesco

Ticker(s): BBD