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Look for Shares of Sprouts Farmers to Potentially Rebound after Yesterday's 1.84% Sell Off

By James Quinn

Sprouts Farmers (NASDAQ:SFM) traded in a range yesterday that spanned from a low of $27.48 to a high of $27.93. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $28.13 on volume of 1.2 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 Sprouts Farmers on August 3rd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.58. Since that recommendation, shares of Sprouts Farmers have risen 19.9%. We continue to monitor SFM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Sprouts Farmers has traded in a range of $17.55 to $29.67 and is now at $27.77, 58% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.6%.

Keywords: rebounders sprouts farmers

Ticker(s): SFM