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SmarTrend Watching for Potential Rebound in Shares of Canadian Pacific Railway After 2.29% Loss

By James Quinn

Canadian Pacific Railway (NYSE:CP) traded in a range yesterday that spanned from a low of $121.70 to a high of $125.42. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $122.31 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian Pacific Railway on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $139.67. Since that call, shares of Canadian Pacific Railway have fallen 8.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Canadian Pacific Railway have traded between a low of $97.09 and a high of $197.59 and are now at $124.54, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.1%.

Keywords: rebounders canadian pacific railway

Ticker(s): CP