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Look for Shares of Schwab (Charles) to Potentially Rebound after Yesterday's 1.97% Sell Off

By David Diaz

Schwab (Charles) (NYSE:SCHW) traded in a range yesterday that spanned from a low of $56.23 to a high of $57.83. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $56.98 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Schwab (Charles) have traded between a low of $38.06 and a high of $60.22 and are now at $56.31, which is 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for Schwab (Charles) and will alert subscribers who have SCHW in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders schwab (charles)

Ticker(s): SCHW