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SmarTrend Watching for Potential Rebound in Shares of Public Service Enterprise Group After 1.07% Loss

By Shiri Gupta

Public Service Enterprise Group (NYSE:PEG) traded in a range yesterday that spanned from a low of $44.21 to a high of $44.89. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $44.30 on volume of 544,000 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 November 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.25. Since that recommendation, shares of Public Service Enterprise Group have risen 5.9%. We continue to monitor PEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Public Service Enterprise Group have traded between a low of $36.80 and a high of $47.41 and are now at $44.29, which is 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Keywords: rebounders public service enterprise group

Ticker(s): PEG