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SmarTrend Watching for Potential Rebound in Shares of Covanta Holding After 3.92% Loss

By David Diaz

Covanta Holding (NYSE:CVA) traded in a range yesterday that spanned from a low of $6.57 to a high of $6.95. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $6.71 on volume of 344,000 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 Covanta Holding and will alert subscribers who have CVA in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Covanta Holding have traded between the current low of $6.57 and a high of $18.38 and are now at $6.61. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.3%.

Keywords: rebounders covanta holding

Ticker(s): CVA