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Look for Shares of Party City Holdc to Potentially Rebound after Yesterday's 9.63% Sell Off

By Shiri Gupta

Party City Holdc (NYSE:PRTY) traded in a range yesterday that spanned from a low of $8.24 to a high of $9.26. Yesterday, the shares fell 9.6%, which took the trading range below the 3-day low of $9.87 on volume of 2.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Party City Holdc share prices have moved between a 52-week high of $16.95 and the current low of $8.24 and are currently at $9.06 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Party City Holdc on August 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $15.22. Since that call, shares of Party City Holdc have fallen 34.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders party city holdc

Ticker(s): PRTY