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First Republic B Set to Possibly Rebound After Yesterday's Selloff of 1.70%

By Shiri Gupta

First Republic B (NYSE:FRC) traded in a range yesterday that spanned from a low of $96.44 to a high of $98.55. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $97.61 on volume of 402,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of First Republic B on January 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.26. Since that recommendation, shares of First Republic B have risen 7.7%. We continue to monitor FRC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, First Republic B has traded in a range of $63.97 to $105.52 and is now at $96.51, 51% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

Keywords: rebounders first republic b

Ticker(s): FRC