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Look for Shares of Mobile Mini to Potentially Rebound after Yesterday's 2.18% Sell Off

By Nick Russo

Mobile Mini (NASDAQ:MINI) traded in a range yesterday that spanned from a low of $35.01 to a high of $36.87. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $35.52 on volume of 54,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Mobile Mini share prices have been bracketed by a low of $23.40 and a high of $50.40 and are now at $35.51, 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mobile Mini on October 25th, 2018 by issuing a Downtrend alert when the shares were trading at $39.96. Since that call, shares of Mobile Mini have fallen 9.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders mobile mini

Ticker(s): MINI