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Dow Chemical Falls 1.74% on Heavy Volume: Watch For Potential Rebound
Feb 20, 2013 (SmarTrend(R) News Watch via COMTEX) --
Dow Chemical (NYSE:DOW) traded in a range yesterday that spanned from a low of $31.57 to a high of $32.27. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $32.14 on volume of 7.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Dow Chemical share prices have moved between a 52-week high of $36.08 and a 52-week low of $27.45 and are now trading 15% above that low price at $31.64 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of Dow Chemical on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.65. Since that recommendation, shares of Dow Chemical have risen 8.6%. We continue to monitor DOW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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