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

By Shiri Gupta

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, Schwab (Charles) share prices have been bracketed by a low of $23.82 and a high of $44.10 and are now at $38.99, 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

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