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Look for Shares of Universal Displa to Potentially Rebound after Yesterday's 1.90% Sell Off

By Shiri Gupta

Universal Displa (NASDAQ:OLED) traded in a range yesterday that spanned from a low of $118.50 to a high of $124.25. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $122.25 on volume of 645,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Universal Displa on July 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.48. Since that recommendation, shares of Universal Displa have risen 30.9%. We continue to monitor OLED for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Universal Displa has traded in a range of $78.75 to $209.00 and is now at $121.53, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 0.7%.

Keywords: rebounders universal displa

Ticker(s): OLED