• Return to Headlines

Endologix Falls 35.44% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Endologix (NASDAQ:ELGX) traded in a range yesterday that spanned from a low of $4.21 to a high of $4.99. Yesterday, the shares fell 35.4%, which took the trading range below the 3-day low of $6.60 on volume of 9.0 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, Endologix share prices have been bracketed by a current low of $4.21 and a high of $18.07 and are now at $4.27. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 3.2%.

SmarTrend is tracking the current trend status for Endologix and will alert subscribers who have ELGX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders endologix

Ticker(s): ELGX