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Xbiotech Inc Falls 23.62% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Xbiotech Inc (NASDAQ:XBIT) traded in a range yesterday that spanned from a low of $16.33 to a high of $18.00. Yesterday, the shares fell 23.6%, which took the trading range below the 3-day low of $21.01 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.

SmarTrend is tracking the current trend status for Xbiotech Inc and will alert subscribers who have XBIT in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Xbiotech Inc has traded in a range of $6.76 to $26.40 and is now at $16.65, 146% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.7% while the 50-day MA has advanced 3.1%.

Keywords: rebounders xbiotech inc

Ticker(s): XBIT