Lumber Liquidators (NYSE:LL) traded in a range yesterday that spanned from a low of $21.50 to a high of $22.12. Yesterday, the shares fell 0.23%, which took the trading range below the 3-day low of $21.75 on volume of 456,000 shares.
Shares of Lumber Liquidators are currently trading below their 50-day moving average (MA) of $26.63 and below their 200-day MA of $25.67. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Lumber Liquidators and our subscribers were alerted to Sell on May 06, 2010 at $28.33. The stock has fallen 23.2% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $21.75 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Home Improvement Stores industry.