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Look for Shares of Cons Edison Inc to Potentially Rebound after Yesterday's 1.04% Sell Off

By David Diaz

Cons Edison Inc (NYSE:ED) traded in a range yesterday that spanned from a low of $79.22 to a high of $80.37. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $79.66 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 recommended that subscribers consider buying shares of Cons Edison Inc on June 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.25. Since that recommendation, shares of Cons Edison Inc have risen 7.3%. We continue to monitor ED for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Cons Edison Inc share prices have moved between a 52-week high of $89.70 and a 52-week low of $71.12 and are now trading 12% above that low price at $79.98 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

Keywords: rebounders cons edison inc

Ticker(s): ED