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Look for Shares of Viacom Inc-B to Potentially Rebound after Yesterday's 3.58% Sell Off

By Nick Russo

Viacom Inc-B (NASDAQ:VIAB) traded in a range yesterday that spanned from a low of $27.36 to a high of $28.38. Yesterday, the shares fell 3.6%, which took the trading range below the 3-day low of $28.50 on volume of 3.6 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, Viacom Inc-B share prices have been bracketed by a current low of $27.36 and a high of $46.72 and are now at $27.52. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Viacom Inc-B on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $42.99. Since that call, shares of Viacom Inc-B have fallen 33.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders viacom inc-b

Ticker(s): VIAB