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Look for Shares of Seagate Technology to Potentially Rebound after Yesterday's 1.83% Sell Off

By David Diaz

Seagate Technology (NASDAQ:STX) traded in a range yesterday that spanned from a low of $45.95 to a high of $46.79. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $46.01 on volume of 1.6 million 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 Seagate Technology on November 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.79. Since that recommendation, shares of Seagate Technology have risen 24.0%. We continue to monitor STX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Seagate Technology share prices have been bracketed by a low of $18.42 and a high of $59.86 and are now at $46.04, 150% above that low price. The 200-day and 50-day moving averages have moved 1.46% lower and 2.84% lower over the past week, respectively.

Keywords: rebounders Seagate Technology

Ticker(s): STX