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Look for Shares of ITT Educational Services to Potentially Rebound after Yesterday's 1.97% Sell Off
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
ITT Educational Services (NYSE:ESI) traded in a range yesterday that spanned from a low of $72.30 to a high of $75.66. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $71.58 on volume of 492,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of ITT Educational Services on December 27th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.82. Since that recommendation, shares of ITT Educational Services have risen 32.3%. We continue to monitor ESI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, ITT Educational Services share prices have been bracketed by a low of $50.22 and a high of $95.52 and are now at $73.68, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.0%.
Write to Chip Brian at cbrian@mysmartrend.com
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