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Look for Shares of Brookfield Asset Management to Potentially Rebound after Yesterday's 1.23% Sell Off

By David Diaz

Brookfield Asset Management (NYSE:BAM) traded in a range yesterday that spanned from a low of $36.32 to a high of $37.18. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $37.23 on volume of 642,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Brookfield Asset Management have traded between a low of $26.13 and a high of $38.99 and are now at $36.74, which is 41% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Keywords: rebounders Brookfield Asset Management

Ticker(s): BAM