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Look for Shares of Signet Jewelers to Potentially Rebound after Yesterday's 1.74% Sell Off

By James Quinn

Signet Jewelers (NYSE:SIG) traded in a range yesterday that spanned from a low of $58.70 to a high of $60.68. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $59.03 on volume of 848,000 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 Signet Jewelers on June 7th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.43. Since that recommendation, shares of Signet Jewelers have risen 8.0%. We continue to monitor SIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Signet Jewelers has traded in a range of $46.09 to $101.46 and is now at $59.06, 28% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.

Keywords: rebounders signet jewelers

Ticker(s): SIG