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FirstEnergy Set to Possibly Rebound After Yesterday's Selloff of 1.18%

By James Quinn

FirstEnergy (NYSE:FE) traded in a range yesterday that spanned from a low of $30.90 to a high of $31.42. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $31.00 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, FirstEnergy has traded in a range of $28.89 to $37.05 and is now at $30.91, 7% above that low. The 200-day and 50-day moving averages have moved 0.04% lower and 0.10% higher over the past week, respectively.

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

Keywords: rebounders firstenergy

Ticker(s): FE