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SmarTrend Watching for Potential Rebound in Shares of Ensco Plc-Cl A After 2.36% Loss

By David Diaz

Ensco Plc-Cl A (NYSE:ESV) traded in a range yesterday that spanned from a low of $6.34 to a high of $6.54. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $6.49 on volume of 4.5 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, Ensco Plc-Cl A share prices have been bracketed by a low of $4.10 and a high of $7.60 and are now at $6.44, 57% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.3%.

SmarTrend recommended that subscribers consider buying shares of Ensco Plc-Cl A on April 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.36. Since that recommendation, shares of Ensco Plc-Cl A have risen 22.7%. We continue to monitor ESV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ensco plc-cl a

Ticker(s): ESV