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Watch for Commercial Metal to Potentially Rebound After Falling 1.02% Yesterday

By Shiri Gupta

Commercial Metal (NYSE:CMC) traded in a range yesterday that spanned from a low of $20.79 to a high of $21.15. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $20.96 on volume of 168,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, Commercial Metal share prices have been bracketed by a low of $13.27 and a high of $24.04 and are now at $21.01, 58% above that low price. The 200-day and 50-day moving averages have moved 0.42% higher and 0.05% lower over the past week, respectively.

Keywords: rebounders commercial metal

Ticker(s): CMC