BorgWarner Falls 2.14% on Heavy Volume: Watch For Potential Rebound
BorgWarner (NYSE:BWA) traded in a range yesterday that spanned from a low of $33.09 to a high of $34.54. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $34.15 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
BorgWarner share prices have moved between a 52-week high of $62.32 and a 52-week low of $27.52 and are now trading 21% above that low price at $33.26 per share. The 200-day and 50-day moving averages have moved 0.86% lower and 0.56% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of BorgWarner on July 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.99. Since that recommendation, shares of BorgWarner have risen 6.8%. We continue to monitor BWA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders BorgWarner