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Look for Shares of Big Lots Inc to Potentially Rebound after Yesterday's 2.42% Sell Off

By Nick Russo

Big Lots Inc (NYSE:BIG) traded in a range yesterday that spanned from a low of $46.32 to a high of $47.72. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $46.55 on volume of 626,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Big Lots Inc share prices have moved between a 52-week high of $64.42 and a 52-week low of $42.40 and are now trading 9% above that low price at $46.37 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Big Lots Inc on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $58.44. Since that call, shares of Big Lots Inc have fallen 18.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders big lots inc

Ticker(s): BIG