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SmarTrend Watching for Potential Rebound in Shares of Seattle Genetics After 2.56% Loss

By David Diaz

Seattle Genetics (NASDAQ:SGEN) traded in a range yesterday that spanned from a low of $57.40 to a high of $62.95. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $62.33 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 Seattle Genetics and will alert subscribers who have SGEN in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Seattle Genetics have traded between a low of $26.02 and a high of $75.36 and are now at $62.10, which is 139% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.0%.

Keywords: rebounders seattle genetics

Ticker(s): SGEN