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Look for Shares of Foot Locker to Potentially Rebound after Yesterday's 2.02% Sell Off

By Shiri Gupta

Foot Locker (NYSE:FL) traded in a range yesterday that spanned from a low of $73.95 to a high of $75.91. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $74.75 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Foot Locker share prices have moved between a 52-week high of $79.43 and a 52-week low of $50.90 and are now trading 46% above that low price at $74.34 per share. The 200-day and 50-day moving averages have moved 0.25% lower and 0.69% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Foot Locker on February 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.87. Since that recommendation, shares of Foot Locker have risen 3.8%. We continue to monitor FL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Foot Locker

Ticker(s): FL