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SmarTrend Watching for Potential Rebound in Shares of Public Service Enterprise Group After 2.29% Loss

By David Diaz

Public Service Enterprise Group (NYSE:PEG) traded in a range yesterday that spanned from a low of $45.37 to a high of $46.42. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $45.80 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Public Service Enterprise Group on December 30th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.05. Since that recommendation, shares of Public Service Enterprise Group have risen 19.0%. We continue to monitor PEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Public Service Enterprise Group has traded in a range of $36.80 to $47.41 and is now at $45.46, 24% above that low. The 200-day and 50-day moving averages have moved 0.24% higher and 0.51% higher over the past week, respectively.

Keywords: rebounders public service enterprise group

Ticker(s): PEG