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Gen Cable Corp Set to Possibly Rebound After Yesterday's Selloff of 1.68%

By David Diaz

Gen Cable Corp (NYSE:BGC) traded in a range yesterday that spanned from a low of $17.55 to a high of $17.95. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $17.90 on volume of 498,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Gen Cable Corp share prices have moved between a 52-week high of $20.80 and a 52-week low of $11.65 and are now trading 52% above that low price at $17.65 per share. The 200-day and 50-day moving averages have moved 0.4% lower and 5.59% higher over the past week, respectively.

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

Keywords: rebounders gen cable corp

Ticker(s): BGC