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SmarTrend Watching for Potential Rebound in Shares of Envestnet Inc After 1.29% Loss

By Amy Schwartz

Envestnet Inc (NYSE:ENV) traded in a range yesterday that spanned from a low of $57.18 to a high of $58.30. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $57.54 on volume of 241,000 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 Envestnet Inc on August 5th, 2019 by issuing a Downtrend alert when the shares were trading at $66.12. Since that call, shares of Envestnet Inc have fallen 12.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Envestnet Inc share prices have been bracketed by a low of $46.57 and a high of $73.94 and are now at $57.24, 23% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 1.27% lower over the past week, respectively.

Keywords: rebounders envestnet inc

Ticker(s): ENV