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Watch for Mgp Ingredients to Potentially Rebound After Falling 2.16% Yesterday

By James Quinn

Mgp Ingredients (NASDAQ:MGPI) traded in a range yesterday that spanned from a low of $89.60 to a high of $92.45. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $91.32 on volume of 126,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Mgp Ingredients share prices have been bracketed by a low of $31.93 and a high of $99.73 and are now at $90.73, 184% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has remained constant.

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

Keywords: rebounders mgp ingredients

Ticker(s): MGPI