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Watch for On Assignment to Potentially Rebound After Falling 1.33% Yesterday

By Shiri Gupta

On Assignment (NYSE:ASGN) traded in a range yesterday that spanned from a low of $56.59 to a high of $57.04. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $56.60 on volume of 74,000 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 On Assignment have traded between a low of $51.05 and a high of $94.25 and are now at $56.59, which is 11% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of On Assignment on April 26th, 2019 by issuing a Downtrend alert when the shares were trading at $63.71. Since that call, shares of On Assignment have fallen 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders on assignment

Ticker(s): ASGN