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Look for Shares of Cinemark to Potentially Rebound after Yesterday's 2.58% Sell Off

By David Diaz

Cinemark (NYSE:CNK) traded in a range yesterday that spanned from a low of $39.01 to a high of $40.45. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $40.92 on volume of 652,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Cinemark. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cinemark in search of a potential trend change.

In the past 52 weeks, shares of Cinemark have traded between a low of $26.56 and a high of $44.84 and are now at $39.85, which is 50% above that low price. The 200-day and 50-day moving averages have moved 0.34% lower and 1.06% higher over the past week, respectively.

Keywords: rebounders cinemark

Ticker(s): CNK