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Watch for Foot Locker to Potentially Rebound After Falling 2.02% Yesterday

By David Diaz

Foot Locker (NYSE:FL) traded in a range yesterday that spanned from a low of $73.95 to a high of $75.91. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $74.75 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Foot Locker on February 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.87. Since that recommendation, shares of Foot Locker have risen 3.8%. We continue to monitor FL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Foot Locker has traded in a range of $50.90 to $79.43 and is now at $74.34, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

Keywords: rebounders Foot Locker

Ticker(s): FL