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SmarTrend Watching for Potential Rebound in Shares of Cbs Corp-B After 1.62% Loss

By Shiri Gupta

Cbs Corp-B (NYSE:CBS) traded in a range yesterday that spanned from a low of $51.57 to a high of $52.20. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $52.42 on volume of 735,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Cbs Corp-B have traded between a low of $41.38 and a high of $59.56 and are now at $51.67, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.1% lower and 0.38% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cbs Corp-B on June 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.57. Since that recommendation, shares of Cbs Corp-B have risen 3.7%. We continue to monitor CBS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cbs corp-b

Ticker(s): CBS