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Look for Shares of Viacom Inc-B to Potentially Rebound after Yesterday's 1.19% Sell Off

By James Quinn

Viacom Inc-B (NASDAQ:VIAB) traded in a range yesterday that spanned from a low of $28.04 to a high of $28.47. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $28.20 on volume of 1.8 million 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 Viacom Inc-B on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.58. Since that recommendation, shares of Viacom Inc-B have risen 3.4%. We continue to monitor VIAB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Viacom Inc-B share prices have been bracketed by a low of $23.31 and a high of $34.44 and are now at $28.18, 21% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Keywords: rebounders viacom inc-b

Ticker(s): VIAB