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Look for Shares of Knight Transportation to Potentially Rebound after Yesterday's 2.39% Sell Off

By David Diaz

Knight Transportation (NYSE:KNX) traded in a range yesterday that spanned from a low of $32.60 to a high of $33.40. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $32.75 on volume of 378,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Knight Transportation on December 14th, 2016 by issuing a Downtrend alert when the shares were trading at $34.97. Since that call, shares of Knight Transportation have fallen 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Knight Transportation has traded in a range of $20.56 to $38.80 and is now at $32.67, 59% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders knight transportation

Ticker(s): KNX