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Flowserve Corp Set to Possibly Rebound After Yesterday's Selloff of 1.00%

By Nick Russo

Flowserve Corp (NYSE:FLS) traded in a range yesterday that spanned from a low of $46.80 to a high of $47.08. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $46.95 on volume of 250,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Flowserve Corp share prices have moved between a 52-week high of $54.16 and a 52-week low of $39.75 and are now trading 16% above that low price at $46.14 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

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

Keywords: rebounders flowserve corp

Ticker(s): FLS