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Look for Shares of People'S United to Potentially Rebound after Yesterday's 2.55% Sell Off

By Shiri Gupta

People'S United (NASDAQ:PBCT) traded in a range yesterday that spanned from a low of $16.04 to a high of $16.66. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $16.46 on volume of 1.9 million 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 People'S United on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $18.60. Since that call, shares of People'S United have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

People'S United share prices have moved between a 52-week high of $20.26 and the current low of $16.09 and are currently at $16.11 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.2%.

Keywords: rebounders people's united

Ticker(s): PBCT