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Watch for Spirit Realty to Potentially Rebound After Falling 1.97% Yesterday

By David Diaz

Spirit Realty (NYSE:SRC) traded in a range yesterday that spanned from a low of $8.20 to a high of $8.34. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $8.21 on volume of 4.5 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 Spirit Realty have traded between a low of $6.64 and a high of $13.97 and are now at $8.25, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Spirit Realty on October 6th, 2016 by issuing a Downtrend alert when the shares were trading at $12.28. Since that call, shares of Spirit Realty have fallen 31.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders spirit realty

Ticker(s): SRC