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Reynolds American Falls 2.98% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Reynolds American (NYSE:RAI) traded in a range yesterday that spanned from a low of $43.38 to a high of $46.27. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $47.13 on volume of 8.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, Reynolds American share prices have been bracketed by a low of $35.39 and a high of $54.48 and are now at $45.98, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

Keywords: rebounders Reynolds American

Ticker(s): RAI