Watch for Molson Coors Brewing to Potentially Rebound After Falling 1.11% Yesterday
Molson Coors Brewing (NYSE:TAP) traded in a range yesterday that spanned from a low of $99.20 to a high of $101.52. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $101.50 on volume of 977,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of Molson Coors Brewing on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.58. Since that recommendation, shares of Molson Coors Brewing have risen 13.4%. We continue to monitor TAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Molson Coors Brewing has traded in a range of $63.91 to $104.15 and is now at $100.10, 57% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.
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