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Manhattan Assoc Falls 11.23% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Manhattan Assoc (NASDAQ:MANH) traded in a range yesterday that spanned from a low of $78.21 to a high of $89.00. Yesterday, the shares fell 11.2%, which took the trading range below the 3-day low of $85.20 on volume of 433,000 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 Manhattan Assoc and will alert subscribers who have MANH in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Manhattan Assoc have traded between a low of $40.83 and a high of $90.46 and are now at $80.51, which is 97% above that low price. The 200-day and 50-day moving averages have moved 0.58% higher and 0.56% higher over the past week, respectively.

Keywords: rebounders manhattan assoc

Ticker(s): MANH