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Look for Shares of Tech Data to Potentially Rebound after Yesterday's 1.46% Sell Off

By David Diaz

Tech Data (NASDAQ:TECD) traded in a range yesterday that spanned from a low of $90.60 to a high of $93.18. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $93.13 on volume of 222,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Tech Data has traded in a range of $54.24 to $99.30 and is now at $91.61, 69% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.7%.

SmarTrend recommended that subscribers consider buying shares of Tech Data on November 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $83.04. Since that recommendation, shares of Tech Data have risen 12.3%. We continue to monitor TECD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders tech data

Ticker(s): TECD