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Look for Shares of Aetna to Potentially Rebound after Yesterday's 4.22% Sell Off
Nov 07, 2012 (SmarTrend(R) News Watch via COMTEX) --
Aetna (NYSE:AET) traded in a range yesterday that spanned from a low of $42.34 to a high of $43.50. Yesterday, the shares fell 4.2%, which took the trading range below the 3-day low of $43.36 on volume of 9.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Over the past year, Aetna has traded in a range of $34.58 to $51.14 and is now at $42.68, 23% above that low. The 200-day and 50-day moving averages have moved 0.01% lower and 0.65% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Aetna on August 20th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.62. Since that recommendation, shares of Aetna have risen 12.5%. We continue to monitor AET 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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