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Look for Shares of ConAgra Foods to Potentially Rebound after Yesterday's 1.63% Sell Off

By David Diaz

ConAgra Foods (NYSE:CAG) traded in a range yesterday that spanned from a low of $37.38 to a high of $38.28. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $37.72 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, ConAgra Foods share prices have been bracketed by a low of $33.61 and a high of $48.86 and are now at $37.59, 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for ConAgra Foods and will alert subscribers who have CAG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders conagra foods

Ticker(s): CAG