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Agree Realty Falls 2.76% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Agree Realty (NYSE:ADC) traded in a range yesterday that spanned from a low of $47.75 to a high of $48.74. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $48.31 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Agree Realty has traded in a range of $41.01 to $53.65 and is now at $47.79, 17% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Agree Realty on February 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.55. Since that recommendation, shares of Agree Realty have risen 3.6%. We continue to monitor ADC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders agree realty

Ticker(s): ADC