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Look for Shares of Coty Inc-Cl A to Potentially Rebound after Yesterday's 1.56% Sell Off

By Amy Schwartz

Coty Inc-Cl A (NYSE:COTY) traded in a range yesterday that spanned from a low of $7.54 to a high of $7.69. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $7.55 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Coty Inc-Cl Ahas traded in a range of $7.54 to $21.68 and are now at $7.55. The 200-day and 50-day moving averages have moved 1.4% lower and 2.83% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Coty Inc-Cl A on October 12th, 2018 by issuing a Downtrend alert when the shares were trading at $11.09. Since that call, shares of Coty Inc-Cl A have fallen 30.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders coty inc-cl a

Ticker(s): COTY