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SmarTrend Watching for Potential Rebound in Shares of Mallinckrodt After 1.19% Loss

By David Diaz

Mallinckrodt (NYSE:MNK) traded in a range yesterday that spanned from a low of $15.72 to a high of $16.29. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $15.91 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Mallinckrodt and will alert subscribers who have MNK in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Mallinckrodt has traded in a range of $15.27 to $85.83 and is now at $15.80, 4% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has declined 0.4%.

Keywords: rebounders mallinckrodt

Ticker(s): MNK