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Look for Shares of Pinnacle West to Potentially Rebound after Yesterday's 3.36% Sell Off

By David Diaz

Pinnacle West (NYSE:PNW) traded in a range yesterday that spanned from a low of $76.83 to a high of $77.97. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $77.55 on volume of 338,000 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 Pinnacle West and will alert subscribers who have PNW in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Pinnacle West share prices have been bracketed by a low of $60.05 and a high of $105.51 and are now at $75.67, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.2%.

Keywords: rebounders pinnacle west

Ticker(s): PNW