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SmarTrend Watching for Potential Rebound in Shares of Foot Locker Inc After 1.30% Loss

By James Quinn

Foot Locker Inc (NYSE:FL) traded in a range yesterday that spanned from a low of $58.47 to a high of $59.40. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $58.92 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.

Over the past year, Foot Locker Inc has traded in a range of $40.02 to $68.00 and is now at $58.58, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Foot Locker Inc on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.67. Since that recommendation, shares of Foot Locker Inc have risen 8.6%. We continue to monitor FL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders foot locker inc

Ticker(s): FL