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Watch for Globus Medical I to Potentially Rebound After Falling 8.50% Yesterday

By James Quinn

Globus Medical I (NYSE:GMED) traded in a range yesterday that spanned from a low of $51.63 to a high of $55.96. Yesterday, the shares fell 8.5%, which took the trading range below the 3-day low of $53.33 on volume of 610,000 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 Globus Medical I have traded between a low of $30.89 and a high of $57.83 and are now at $52.37, which is 70% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Globus Medical I on October 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.60. Since that recommendation, shares of Globus Medical I have risen 5.2%. We continue to monitor GMED for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders globus medical i

Ticker(s): GMED