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Watch for Public Service Enterprise Group to Potentially Rebound After Falling 1.07% Yesterday

By Shiri Gupta

Public Service Enterprise Group (NYSE:PEG) traded in a range yesterday that spanned from a low of $44.21 to a high of $44.89. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $44.30 on volume of 544,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Public Service Enterprise Group has traded in a range of $36.80 to $47.41 and is now at $44.29, 20% above that low. The 200-day and 50-day moving averages have moved 0.24% higher and 0.51% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Public Service Enterprise Group on November 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.25. Since that recommendation, shares of Public Service Enterprise Group have risen 5.9%. We continue to monitor PEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders public service enterprise group

Ticker(s): PEG