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SmarTrend Watching for Potential Pullback in Shares of Foot Locker Inc After 2.82% Gain

By David Diaz

Foot Locker Inc (NYSE:FL) traded in a range yesterday that spanned from a low of $41.51 to a high of $43.48. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $42.79 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Foot Locker Inc share prices have been bracketed by a low of $39.06 and a high of $68.00 and are now at $43.27, 11% above that low price. The 200-day and 50-day moving averages have moved 0.3% lower and 2.06% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Foot Locker Inc on May 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $56.10. Since that call, shares of Foot Locker Inc have fallen 24.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders foot locker inc

Ticker(s): FL