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SmarTrend Watching for Potential Rebound in Shares of Watsco Inc After 1.27% Loss

By Amy Schwartz

Watsco Inc (NYSE:WSO) traded in a range yesterday that spanned from a low of $161.79 to a high of $163.70. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $164.01 on volume of 77,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Watsco Inc have traded between a low of $131.88 and a high of $191.86 and are now at $162.72, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Watsco Inc on April 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $146.40. Since that recommendation, shares of Watsco Inc have risen 12.4%. We continue to monitor WSO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders watsco inc

Ticker(s): WSO