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SmarTrend Watching for Potential Rebound in Shares of Cinemark Holding After 2.64% Loss

By Shiri Gupta

Cinemark Holding (NYSE:CNK) traded in a range yesterday that spanned from a low of $31.52 to a high of $32.96. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $33.63 on volume of 442,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cinemark Holdinghas traded in a range of $31.52 to $43.51 and are now at $32.49. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.3%.

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

Keywords: rebounders cinemark holding

Ticker(s): CNK