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SmarTrend Watching for Potential Rebound in Shares of Colfax Corp After 1.20% Loss

By Nick Russo

Colfax Corp (NYSE:CFX) traded in a range yesterday that spanned from a low of $36.22 to a high of $37.23. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $36.47 on volume of 234,000 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 Colfax Corp have traded between a low of $24.03 and a high of $38.88 and are now at $36.76, which is 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

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

Keywords: rebounders colfax corp

Ticker(s): CFX