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Cons Edison Inc Set to Possibly Rebound After Yesterday's Selloff of 1.04%

By Amy Schwartz

Cons Edison Inc (NYSE:ED) traded in a range yesterday that spanned from a low of $79.22 to a high of $80.37. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $79.66 on volume of 642,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cons Edison Inc has traded in a range of $71.12 to $89.70 and is now at $79.98, 12% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Cons Edison Inc on June 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.25. Since that recommendation, shares of Cons Edison Inc have risen 7.3%. We continue to monitor ED for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cons edison inc

Ticker(s): ED