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Look for Shares of Brookfield Asset Management to Potentially Rebound after Yesterday's 1.84% Sell Off

By Shiri Gupta

Brookfield Asset Management (NYSE:BAM) traded in a range yesterday that spanned from a low of $32.59 to a high of $33.74. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $33.36 on volume of 716,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Brookfield Asset Management share prices have been bracketed by a low of $26.13 and a high of $36.81 and are now at $33.14, 27% above that low price. The 200-day and 50-day moving averages have moved 0.13% lower and 0.76% higher over the past week, respectively.

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

Keywords: rebounders Brookfield Asset Management

Ticker(s): BAM