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Look for Shares of Northrop Grumman to Potentially Rebound after Yesterday's 1.32% Sell Off

By Shiri Gupta

Northrop Grumman (NYSE:NOC) traded in a range yesterday that spanned from a low of $270.84 to a high of $275.10. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $274.41 on volume of 662,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Northrop Grumman has traded in a range of $223.63 to $360.88 and is now at $270.84, 21% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Northrop Grumman on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $251.34. Since that recommendation, shares of Northrop Grumman have risen 9.3%. We continue to monitor NOC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Northrop Grumman

Ticker(s): NOC