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Look for Shares of Lyondellbasell-A to Potentially Rebound after Yesterday's 1.34% Sell Off

By Nick Russo

Lyondellbasell-A (NYSE:LYB) traded in a range yesterday that spanned from a low of $116.07 to a high of $117.64. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $116.51 on volume of 416,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Lyondellbasell-A has traded in a range of $78.88 to $121.95 and is now at $116.26, 47% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Lyondellbasell-A on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $108.09. Since that recommendation, shares of Lyondellbasell-A have risen 8.9%. We continue to monitor LYB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lyondellbasell-a

Ticker(s): LYB