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New Oriental Education & Technology Set to Possibly Rebound After Yesterday's Selloff of 10.72%Dec 04, 2012 (SmarTrend(R) News Watch via COMTEX) -- New Oriental Education & Technology (NYSE:EDU) traded in a range yesterday that spanned from a low of $17.78 to a high of $20.25. Yesterday, the shares fell 10.7%, which took the trading range below the 3-day low of $19.14 on volume of 10.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. In the past 52 weeks, shares of New Oriental Education & Technology have traded between a low of $9.41 and a high of $29.19 and are now at $18.08, which is 92% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.4%. SmarTrend recommended that subscribers consider buying shares of New Oriental Education & Technology on August 22nd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.47. Since that recommendation, shares of New Oriental Education & Technology have risen 39.9%. We continue to monitor EDU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |