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New Media Invest Falls 6.79% on Heavy Volume: Watch For Potential Rebound

By David Diaz

New Media Invest (NYSE:NEWM) traded in a range yesterday that spanned from a low of $7.56 to a high of $7.69. Yesterday, the shares fell 6.8%, which took the trading range below the 3-day low of $7.75 on volume of 436,000 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 New Media Invest have traded between a low of $7.08 and a high of $14.56 and are now at $7.62, which is 8% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.4%.

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

Keywords: rebounders new media invest

Ticker(s): NEWM