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Weyerhaeuser Co Set to Possibly Rebound After Yesterday's Selloff of 2.28%

By Nick Russo

Weyerhaeuser Co (NYSE:WY) traded in a range yesterday that spanned from a low of $37.43 to a high of $38.26. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $37.78 on volume of 1.2 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 Weyerhaeuser Co have traded between a low of $30.95 and a high of $38.39 and are now at $37.47, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Weyerhaeuser Co on April 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.96. Since that recommendation, shares of Weyerhaeuser Co have risen 6.7%. We continue to monitor WY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders weyerhaeuser co

Ticker(s): WY