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Tech Data Corp Set to Possibly Rebound After Yesterday's Selloff of 6.27%

By Amy Schwartz

Tech Data Corp (NASDAQ:TECD) traded in a range yesterday that spanned from a low of $81.89 to a high of $88.47. Yesterday, the shares fell 6.3%, which took the trading range below the 3-day low of $86.05 on volume of 1.6 million 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 Tech Data Corp have traded between a low of $67.67 and a high of $111.10 and are now at $81.91, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Tech Data Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tech Data Corp in search of a potential trend change.

Keywords: rebounders tech data corp

Ticker(s): TECD