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Look for Shares of Lyondellbasell-A to Potentially Rebound after Yesterday's 3.32% Sell Off

By David Diaz

Lyondellbasell-A (NYSE:LYB) traded in a range yesterday that spanned from a low of $87.24 to a high of $88.86. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $89.31 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Lyondellbasell-A share prices have been bracketed by a low of $85.60 and a high of $121.95 and are now at $87.56, 2% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

SmarTrend is monitoring the recent change of momentum in Lyondellbasell-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lyondellbasell-A in search of a potential trend change.

Keywords: rebounders lyondellbasell-a

Ticker(s): LYB