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Foot Locker Rises 5.37% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Foot Locker (NYSE:FL) traded in a range yesterday that spanned from a low of $74.37 to a high of $76.89. Yesterday, the shares gained 5.4%, which took the trading range above the 3-day high of $73.11 on volume of 4.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Foot Locker share prices have been bracketed by a low of $50.90 and a high of $79.43 and are now at $76.77, 51% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

SmarTrend is tracking the current trend status for Foot Locker and will alert subscribers who have FL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Foot Locker

Ticker(s): FL