Zayo (ZAYO): Cork In Water Rebound

The possibility of M&A developments for Zayo was discussed here a couple of months ago, and we have seen the stock price rise from around $25 to where it is now. Yesterday looked initially as though the recent rally could be at an end. However, there was a sharp intraday rebound, suggesting that buyers are still keen on this situation.

zayo

Indeed, the rebound off the 50 day moving average echoed the sharp gap higher seen at the beginning of last month, and one would presume that this suggests that any M&A moves could now be imminent. This is especially so while the stock remains above the 50 day moving average at $30.01.

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Author: Zak Mir

Financial commentator, interviewer, technical analyst

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