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Look for Shares of Coty Inc-Cl A to Potentially Rebound after Yesterday's 3.25% Sell Off

By David Diaz

Coty Inc-Cl A (NYSE:COTY) traded in a range yesterday that spanned from a low of $9.10 to a high of $9.37. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $9.32 on volume of 3.2 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 A has traded in a range of $5.91 to $14.03 and is now at $9.24, 56% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Coty Inc-Cl A on July 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $11.46. Since that call, shares of Coty Inc-Cl A have fallen 16.8%. 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