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Dover Corp Set to Possibly Rebound After Yesterday's Selloff of 1.20%

By David Diaz

Dover Corp (NYSE:DOV) traded in a range yesterday that spanned from a low of $76.85 to a high of $78.29. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $77.69 on volume of 693,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Dover Corp have traded between a low of $75.74 and a high of $109.06 and are now at $77.17, which is 2% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Dover Corp on March 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $97.55. Since that call, shares of Dover Corp have fallen 20.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders dover corp

Ticker(s): DOV