Watch for Urban Outfitters to Potentially Rebound After Falling 3.68% Yesterday
Urban Outfitters (NASDAQ:URBN) traded in a range yesterday that spanned from a low of $33.37 to a high of $35.00. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $34.70 on volume of 1.2 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, Urban Outfitters share prices have been bracketed by a low of $19.26 and a high of $47.25 and are now at $33.62, 75% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Urban Outfitters on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.37. Since that recommendation, shares of Urban Outfitters have risen 18.4%. We continue to monitor URBN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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