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Mallinckrodt Falls 13.32% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Mallinckrodt (NYSE:MNK) traded in a range yesterday that spanned from a low of $35.10 to a high of $41.31. Yesterday, the shares fell 13.3%, which took the trading range below the 3-day low of $38.71 on volume of 5.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, shares of Mallinckrodt have traded between a low of $35.04 and a high of $85.83 and are now at $35.59, which is 2% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 1.7%.

Keywords: rebounders mallinckrodt

Ticker(s): MNK