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Look for Shares of Schwab (Charles) to Potentially Rebound after Yesterday's 3.40% Sell Off

By David Diaz

Schwab (Charles) (NASDAQ:SCHW) traded in a range yesterday that spanned from a low of $38.79 to a high of $39.90. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $39.14 on volume of 2.6 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 $23.82 and a high of $44.10 and are now at $38.99, which is 64% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

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