SmarTrend Watching for Potential Rebound in Shares of Laboratory Corp of America Holdings After 2.01% Loss
Laboratory Corp of America Holdings (NYSE:LH) traded in a range yesterday that spanned from a low of $127.36 to a high of $130.13. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $129.28 on volume of 530,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Laboratory Corp of America Holdings share prices have moved between a 52-week high of $131.99 and a 52-week low of $97.79 and are now trading 31% above that low price at $127.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Laboratory Corp of America Holdings on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.54. Since that recommendation, shares of Laboratory Corp of America Holdings have risen 17.9%. We continue to monitor LH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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