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Penske Automotiv Set to Possibly Rebound After Yesterday's Selloff of 1.83%

By Nick Russo

Penske Automotiv (NYSE:PAG) traded in a range yesterday that spanned from a low of $44.43 to a high of $44.69. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $44.54 on volume of 109,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Penske Automotiv share prices have moved between a 52-week high of $53.84 and a 52-week low of $38.49 and are now trading 16% above that low price at $44.56 per share. The 200-day and 50-day moving averages have moved 0.24% lower and 0.22% higher over the past week, respectively.

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

Keywords: rebounders penske automotiv

Ticker(s): PAG