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Manhattan Associates Set to Possibly Rebound After Yesterday's Selloff of 7.91%

By Nick Russo

Manhattan Associates (NASDAQ:MANH) traded in a range yesterday that spanned from a low of $46.29 to a high of $48.58. Yesterday, the shares fell 7.9%, which took the trading range below the 3-day low of $49.17 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

Manhattan Associates share prices have moved between a 52-week high of $126.27 and a 52-week low of $28.24 and are now trading 66% above that low price at $47.00 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Keywords: rebounders manhattan associates

Ticker(s): MANH