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Watch for Mentor Graphics to Potentially Rebound After Falling 5.14% Yesterday
Mar 01, 2013 (SmarTrend(R) News Watch via COMTEX) --
Mentor Graphics (NASDAQ:MENT) traded in a range yesterday that spanned from a low of $13.21 to a high of $16.85. Yesterday, the shares fell 5.1%, which took the trading range below the 3-day low of $16.79 on volume of 5.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Mentor Graphics share prices have moved between a 52-week high of $17.91 and a 52-week low of $8.50 and are now trading 98% above that low price at $16.80 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Mentor Graphics on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.50. Since that recommendation, shares of Mentor Graphics have risen 14.3%. We continue to monitor MENT 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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