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Corrections of America Up on Heavy Volume in Possible Trend Reversal (CXW)

By Amy Schwartz

Shares of Corrections of America are trading up 6.8% to $15.32 today on above average volume. Today's volume of 961,000 shares tops the average 30-day volume of 569,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that its subscribers protect gains by selling shares of Corrections of America on July 7th, 2016 by issuing a Downtrend alert when the shares were trading at $32.94. Since that call, shares of Corrections of America have fallen 56.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Corrections of America share prices have moved between a 52-week high of $36.98 and a 52-week low of $13.04 and are now trading 17% above that low price at $15.21 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

Keywords: unusual volume corrections of america

Ticker(s): CXW