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SmarTrend Watching for Potential Rebound in Shares of Universal Displa After 1.08% Loss

By Amy Schwartz

Universal Displa (NASDAQ:OLED) traded in a range yesterday that spanned from a low of $170.52 to a high of $175.05. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $171.82 on volume of 212,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Universal Displa have traded between a low of $78.75 and a high of $188.03 and are now at $172.40, which is 119% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.8%.

SmarTrend is monitoring the recent change of momentum in Universal Displa. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Universal Displa in search of a potential trend change.

Keywords: rebounders universal displa

Ticker(s): OLED