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Watch for Scotts Miracle to Potentially Rebound After Falling 1.61% Yesterday

By David Diaz

Scotts Miracle (NYSE:SMG) traded in a range yesterday that spanned from a low of $80.14 to a high of $80.83. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $80.69 on volume of 146,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Scotts Miracle share prices have moved between a 52-week high of $93.00 and a 52-week low of $57.96 and are now trading 38% above that low price at $80.14 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 1.75% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Scotts Miracle on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.51. Since that recommendation, shares of Scotts Miracle have risen 24.4%. We continue to monitor SMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders scotts miracle

Ticker(s): SMG