Look for Shares of Laboratory Corp of America Holdings to Potentially Rebound after Yesterday's 3.12% Sell Off
Laboratory Corp of America Holdings (NYSE:LH) traded in a range yesterday that spanned from a low of $131.96 to a high of $134.81. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $134.34 on volume of 883,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Laboratory Corp of America Holdings share prices have moved between a 52-week high of $141.32 and a 52-week low of $97.79 and are now trading 36% above that low price at $132.92 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.
SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.54. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 23.9%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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