• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of Burlington Store After 3.11% Loss

By Amy Schwartz

Burlington Store (NYSE:BURL) traded in a range yesterday that spanned from a low of $138.95 to a high of $139.36. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $141.21 on volume of 794,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Burlington Store has traded in a range of $124.38 to $180.27 and is now at $138.95, 12% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 0.48% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Burlington Store on February 13th, 2019 by issuing a Downtrend alert when the shares were trading at $163.68. Since that call, shares of Burlington Store have fallen 12.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders burlington store

Ticker(s): BURL