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SmarTrend Watching for Potential Rebound in Shares of Depomed After 2.73% Loss

By Amy Schwartz

Depomed (NASDAQ:DEPO) traded in a range yesterday that spanned from a low of $11.34 to a high of $11.79. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $11.72 on volume of 834,000 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 Depomed on October 28th, 2016 by issuing a Downtrend alert when the shares were trading at $22.73. Since that call, shares of Depomed have fallen 48.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Depomed share prices have been bracketed by a current low of $11.34 and a high of $33.74 and are now at $11.38. The 200-day and 50-day moving averages have moved 1.57% lower and 0.23% lower over the past week, respectively.

Keywords: rebounders DepoMed

Ticker(s): DEPO