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Look for Shares of Slm Corp to Potentially Rebound after Yesterday's 2.09% Sell Off

By Shiri Gupta

Slm Corp (NASDAQ:SLM) traded in a range yesterday that spanned from a low of $11.49 to a high of $11.78. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $11.73 on volume of 1.5 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, Slm Corp share prices have been bracketed by a low of $9.65 and a high of $12.46 and are now at $11.52, 19% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Slm Corp on November 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.29. Since that recommendation, shares of Slm Corp have risen 4.1%. We continue to monitor SLM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders slm corp

Ticker(s): SLM