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Watch for Agco Corp to Potentially Rebound After Falling 1.61% Yesterday

By James Quinn

Agco Corp (NYSE:AGCO) traded in a range yesterday that spanned from a low of $68.71 to a high of $69.64. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $69.94 on volume of 275,000 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 Agco Corp have traded between a low of $44.68 and a high of $73.97 and are now at $69.11, which is 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Agco Corp on June 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.38. Since that recommendation, shares of Agco Corp have risen 7.1%. We continue to monitor AGCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders AGCO Corp

Ticker(s): AGCO