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New Resident Set to Possibly Rebound After Yesterday's Selloff of 2.69%

By James Quinn

New Resident (NYSE:NRZ) traded in a range yesterday that spanned from a low of $6.02 to a high of $6.45. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $6.12 on volume of 4.5 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, New Resident share prices have been bracketed by a low of $2.91 and a high of $17.66 and are now at $6.14, 111% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 7.2%.

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

Keywords: rebounders new resident

Ticker(s): NRZ