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New Relic Inc Falls 2.13% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

New Relic Inc (NYSE:NEWR) traded in a range yesterday that spanned from a low of $71.54 to a high of $74.54. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $73.56 on volume of 359,000 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 New Relic Inc on August 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.03. Since that recommendation, shares of New Relic Inc have risen 53.8%. We continue to monitor NEWR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, New Relic Inc share prices have been bracketed by a low of $27.20 and a high of $76.54 and are now at $71.93, 164% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.3%.

Keywords: rebounders new relic inc

Ticker(s): NEWR