NEW YORK (TheStreet) -- DeVry Education Group (DV) shares may be ready for a jump.

The stock started a strong downward trend at the end of the last year and since then the price has dropped by 40% and is now trading at about $33. The long-term chart is loyal to the 100-day moving average and has been testing it recently. On the upside, investors should watch carefully for a breach of the moving average. On the downside, stop loss should be around $30, where the recent history showed that price works well as a short-term support line.

The stock is currently trading with a very low Pprice-to-earnings ratio, and many hedge-funds hold it in their portfolios. One of them is Private Capital Management.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.