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Look for Shares of Pattern Ener to Potentially Rebound after Yesterday's 9.14% Sell Off

By Nick Russo

Pattern Ener (NASDAQ:PEGI) traded in a range yesterday that spanned from a low of $16.81 to a high of $18.14. Yesterday, the shares fell 9.1%, which took the trading range below the 3-day low of $18.47 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Pattern Ener and will alert subscribers who have PEGI in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Pattern Ener has traded in a range of $16.58 to $26.56 and is now at $16.89, 2% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.

Keywords: rebounders pattern ener

Ticker(s): PEGI