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SmarTrend Watching for Potential Pullback in Shares of Meredith Corp After 1.23% Gain

By James Quinn

Meredith Corp (NYSE:MDP) traded in a range yesterday that spanned from a low of $37.85 to a high of $39.01. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $38.47 on volume of 434,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Meredith Corp have traded between a low of $31.43 and a high of $62.40 and are now at $38.70, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.3% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Meredith Corp on August 5th, 2019 by issuing a Downtrend alert when the shares were trading at $52.44. Since that call, shares of Meredith Corp have fallen 26.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders meredith corp

Ticker(s): MDP