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Cbs Corp-B Set to Possibly Rebound After Yesterday's Selloff of 7.27%

By Nick Russo

Cbs Corp-B (NYSE:CBS) traded in a range yesterday that spanned from a low of $44.95 to a high of $47.40. Yesterday, the shares fell 7.3%, which took the trading range below the 3-day low of $47.90 on volume of 4.5 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, Cbs Corp-B share prices have been bracketed by a low of $41.38 and a high of $59.56 and are now at $45.12, 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cbs Corp-B on July 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $50.31. Since that call, shares of Cbs Corp-B have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders cbs corp-b

Ticker(s): CBS