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SmarTrend Watching for Potential Rebound in Shares of Urban Outfitters After 1.52% Loss

By James Quinn

Urban Outfitters (NASDAQ:URBN) traded in a range yesterday that spanned from a low of $23.09 to a high of $23.77. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $23.38 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Urban Outfitters has traded in a range of $19.26 to $47.25 and is now at $23.19, 20% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Urban Outfitters on November 29th, 2016 by issuing a Downtrend alert when the shares were trading at $32.38. Since that call, shares of Urban Outfitters have fallen 27.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Urban Outfitters

Ticker(s): URBN