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Wright Medical G Falls 1.70% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Wright Medical G (NASDAQ:WMGI) traded in a range yesterday that spanned from a low of $31.17 to a high of $31.79. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $31.29 on volume of 492,000 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 Wright Medical G on May 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.55. Since that recommendation, shares of Wright Medical G have risen 4.1%. We continue to monitor WMGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Wright Medical G has traded in a range of $22.55 to $32.86 and is now at $31.19, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.

Keywords: rebounders wright medical g

Ticker(s): WMGI