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Look for Shares of Discovery Comm-A to Potentially Rebound after Yesterday's 1.50% Sell Off

By Shiri Gupta

Discovery Comm-A (NASDAQ:DISCA) traded in a range yesterday that spanned from a low of $30.91 to a high of $32.09. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $32.04 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Discovery Comm-A has traded in a range of $15.99 to $34.06 and is now at $31.52, 97% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Discovery Comm-A on August 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.99. Since that recommendation, shares of Discovery Comm-A have risen 10.6%. We continue to monitor DISCA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders discovery comm-a

Ticker(s): DISCA