• Return to Headlines

People'S United Falls 2.55% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

People'S United (NASDAQ:PBCT) traded in a range yesterday that spanned from a low of $16.04 to a high of $16.66. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $16.46 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, People'S Unitedhas traded in a range of $16.09 to $20.26 and are now at $16.11. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of People'S United on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $18.60. Since that call, shares of People'S United have fallen 11.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders people's united

Ticker(s): PBCT