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SmarTrend Watching for Potential Rebound in Shares of On Assignment After 5.13% Loss

By Shiri Gupta

On Assignment (NYSE:ASGN) traded in a range yesterday that spanned from a low of $64.51 to a high of $67.82. Yesterday, the shares fell 5.1%, which took the trading range below the 3-day low of $67.74 on volume of 100,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, On Assignment has traded in a range of $50.33 to $72.66 and is now at $64.94, 29% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: rebounders on assignment

Ticker(s): ASGN