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Mallinckrodt Set to Possibly Rebound After Yesterday's Selloff of 8.11%

By David Diaz

Mallinckrodt (NYSE:MNK) traded in a range yesterday that spanned from a low of $4.44 to a high of $5.17. Yesterday, the shares fell 8.1%, which took the trading range below the 3-day low of $4.82 on volume of 6.3 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 Mallinckrodt have traded between a low of $1.43 and a high of $27.33 and are now at $5.08, which is 255% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has slid 4.2%.

SmarTrend is tracking the current trend status for Mallinckrodt and will alert subscribers who have MNK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders mallinckrodt

Ticker(s): MNK