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Middleby Corp Set to Possibly Rebound After Yesterday's Selloff of 1.58%

By David Diaz

Middleby Corp (NASDAQ:MIDD) traded in a range yesterday that spanned from a low of $130.55 to a high of $132.53. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $132.46 on volume of 113,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Middleby Corp on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $108.62. Since that recommendation, shares of Middleby Corp have risen 22.4%. We continue to monitor MIDD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Middleby Corp have traded between a low of $96.65 and a high of $139.94 and are now at $130.55, which is 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Keywords: rebounders middleby corp

Ticker(s): MIDD