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Look for Shares of Wageworks to Potentially Rebound after Yesterday's 15.58% Sell Off

By Shiri Gupta

Wageworks (NYSE:WAGE) traded in a range yesterday that spanned from a low of $40.60 to a high of $43.40. Yesterday, the shares fell 15.6%, which took the trading range below the 3-day low of $49.00 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.

In the past 52 weeks, shares of Wageworks have traded between a low of $38.40 and a high of $65.80 and are now at $41.83, which is 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Wageworks. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wageworks in search of a potential trend change.

Keywords: rebounders wageworks

Ticker(s): WAGE