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Preferred Bank Set to Possibly Rebound After Yesterday's Selloff of 1.70%

By Nick Russo

Preferred Bank (NASDAQ:PFBC) traded in a range yesterday that spanned from a low of $64.29 to a high of $65.86. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $65.27 on volume of 133,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Preferred Bank. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Preferred Bank in search of a potential trend change.

Over the past year, Preferred Bank has traded in a range of $49.84 to $69.48 and is now at $64.83, 30% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Keywords: rebounders preferred bank

Ticker(s): PFBC