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

By David Diaz

Meredith Corp (NYSE:MDP) traded in a range yesterday that spanned from a low of $56.50 to a high of $58.85. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $56.95 on volume of 454,000 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 Meredith Corp on January 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $65.68. Since that call, shares of Meredith Corp have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Meredith Corp have traded between a low of $43.85 and a high of $72.25 and are now at $56.60, which is 29% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

Keywords: rebounders meredith corp

Ticker(s): MDP