Lear Falls 2.45% on Heavy Volume: Watch For Potential Rebound
Lear (NYSE:LEA) traded in a range yesterday that spanned from a low of $110.77 to a high of $116.98. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $115.26 on volume of 982,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of Lear on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $109.07. Since that recommendation, shares of Lear have risen 6.3%. We continue to monitor LEA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Lear share prices have moved between a 52-week high of $127.00 and a 52-week low of $89.71 and are now trading 26% above that low price at $112.79 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.
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