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Watch for Zayo Group Holdi to Potentially Rebound After Falling 22.81% Yesterday

By Shiri Gupta

Zayo Group Holdi (NYSE:ZAYO) traded in a range yesterday that spanned from a low of $22.00 to a high of $25.01. Yesterday, the shares fell 22.8%, which took the trading range below the 3-day low of $29.81 on volume of 9.9 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, shares of Zayo Group Holdi have traded between the current low of $22.00 and a high of $39.66 and are now at $23.18. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Zayo Group Holdi on July 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $37.38. Since that call, shares of Zayo Group Holdi have fallen 18.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders zayo group holdi

Ticker(s): ZAYO