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Watch for Medifast Inc to Potentially Rebound After Falling 27.11% Yesterday

By David Diaz

Medifast Inc (NYSE:MED) traded in a range yesterday that spanned from a low of $66.50 to a high of $73.87. Yesterday, the shares fell 27.1%, which took the trading range below the 3-day low of $104.80 on volume of 1.7 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, Medifast Inc share prices have been bracketed by a current low of $66.50 and a high of $219.90 and are now at $71.87. The 200-day and 50-day moving averages have moved 0.17% lower and 0.33% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Medifast Inc and will alert subscribers who have MED in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders medifast inc

Ticker(s): MED