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Look for Shares of Scripps Networks Interactive to Potentially Rebound after Yesterday's 1.41% Sell Off

By David Diaz

Scripps Networks Interactive (NYSE:SNI) traded in a range yesterday that spanned from a low of $75.47 to a high of $77.05. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $76.38 on volume of 522,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Scripps Networks Interactive has traded in a range of $47.62 to $83.42 and is now at $75.61, 59% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Scripps Networks Interactive on September 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.36. Since that recommendation, shares of Scripps Networks Interactive have risen 21.0%. We continue to monitor SNI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Scripps Networks Interactive

Ticker(s): SNI