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Cbs Corp-B Set to Possibly Rebound After Yesterday's Selloff of 1.62%

By James Quinn

Cbs Corp-B (NYSE:CBS) traded in a range yesterday that spanned from a low of $51.57 to a high of $52.20. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $52.42 on volume of 735,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cbs Corp-B has traded in a range of $41.38 to $59.56 and is now at $51.67, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Cbs Corp-B on June 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.57. Since that recommendation, shares of Cbs Corp-B have risen 3.7%. We continue to monitor CBS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cbs corp-b

Ticker(s): CBS