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Watch for CBS to Potentially Rebound After Falling 2.11% Yesterday

By Amy Schwartz

CBS (NYSE:CBS) traded in a range yesterday that spanned from a low of $53.72 to a high of $55.00. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $54.56 on volume of 2.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, CBS share prices have been bracketed by a low of $38.51 and a high of $63.95 and are now at $54.31, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

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

Keywords: rebounders

Ticker(s): CBS