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Seagate Technology Falls 1.67% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Seagate Technology (NASDAQ:STX) traded in a range yesterday that spanned from a low of $33.54 to a high of $35.30. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $34.65 on volume of 6.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Seagate Technology share prices have moved between a 52-week high of $59.86 and a 52-week low of $18.42 and are now trading 88% above that low price at $34.67 per share. The 200-day and 50-day moving averages have moved 1.46% lower and 2.84% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Seagate Technology. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Seagate Technology in search of a potential trend change.

Keywords: rebounders Seagate Technology

Ticker(s): STX