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United Continent Falls 1.21% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

United Continent (NYSE:UAL) traded in a range yesterday that spanned from a low of $61.63 to a high of $63.08. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $61.66 on volume of 2.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of United Continent on July 19th, 2017 by issuing a Downtrend alert when the shares were trading at $75.20. Since that call, shares of United Continent have fallen 17.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, United Continent has traded in a range of $37.41 to $83.04 and is now at $61.98, 66% above that low. The 200-day and 50-day moving averages have moved 0.34% lower and 1.31% lower over the past week, respectively.

Keywords: rebounders united continent

Ticker(s): UAL