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Look for Shares of Shutterfly Inc to Potentially Rebound after Yesterday's 2.70% Sell Off

By Shiri Gupta

Shutterfly Inc (NASDAQ:SFLY) traded in a range yesterday that spanned from a low of $46.38 to a high of $48.19. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $46.61 on volume of 239,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Shutterfly Inc share prices have been bracketed by a low of $43.94 and a high of $100.34 and are now at $47.79, 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Shutterfly Inc on July 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $87.84. Since that call, shares of Shutterfly Inc have fallen 45.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders shutterfly inc

Ticker(s): SFLY