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Look for Shares of Goldcorp to Potentially Rebound after Yesterday's 2.24% Sell Off

By Amy Schwartz

Goldcorp (NYSE:GG) traded in a range yesterday that spanned from a low of $13.72 to a high of $14.20. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $14.12 on volume of 5.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Goldcorp share prices have moved between a 52-week high of $20.38 and a 52-week low of $9.46 and are now trading 48% above that low price at $13.98 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.7%.

SmarTrend is tracking the current trend status for Goldcorp and will alert subscribers who have GG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Goldcorp

Ticker(s): GG