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Watch for Tech Data Corp to Potentially Rebound After Falling 6.27% Yesterday

By Nick Russo

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, Tech Data Corp share prices have been bracketed by a low of $67.67 and a high of $111.10 and are now at $81.91, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.7%.

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