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SmarTrend Watching for Potential Rebound in Shares of Community Health Systems After 4.34% Loss

By Nick Russo

Community Health Systems (NYSE:CYH) traded in a range yesterday that spanned from a low of $8.91 to a high of $9.32. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $9.05 on volume of 1.7 million 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 Community Health Systems have traded between a low of $4.15 and a high of $65.00 and are now at $8.97, which is 116% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.8% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Community Health Systems on January 4th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.06. Since that recommendation, shares of Community Health Systems have risen 54.1%. We continue to monitor CYH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Community Health Systems

Ticker(s): CYH