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Kar Auction Serv Set to Possibly Rebound After Yesterday's Selloff of 2.15%

By James Quinn

Kar Auction Serv (NYSE:KAR) traded in a range yesterday that spanned from a low of $59.79 to a high of $60.92. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $59.80 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Kar Auction Serv has traded in a range of $43.32 to $64.55 and is now at $60.10, 39% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Kar Auction Serv on March 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.80. Since that recommendation, shares of Kar Auction Serv have risen 20.7%. We continue to monitor KAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders kar auction serv

Ticker(s): KAR