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Watch for Gen Cable Corp to Potentially Rebound After Falling 1.68% Yesterday

By Shiri Gupta

Gen Cable Corp (NYSE:BGC) traded in a range yesterday that spanned from a low of $17.55 to a high of $17.95. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $17.90 on volume of 498,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Gen Cable Corp share prices have moved between a 52-week high of $20.80 and a 52-week low of $11.65 and are now trading 52% above that low price at $17.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 5.6%.

SmarTrend is tracking the current trend status for Gen Cable Corp and will alert subscribers who have BGC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders gen cable corp

Ticker(s): BGC