Look for Shares of Fidelity National Information Services to Potentially Rebound after Yesterday's 1.20% Sell Off
Fidelity National Information Services (NYSE:FIS) traded in a range yesterday that spanned from a low of $79.10 to a high of $79.71. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $79.74 on volume of 438,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Fidelity National Information Services has traded in a range of $55.11 to $81.41 and is now at $79.22, 44% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 1.34% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Fidelity National Information Services on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.59. Since that recommendation, shares of Fidelity National Information Services have risen 6.0%. We continue to monitor FIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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