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Watch for Williams-Sonoma to Potentially Rebound After Falling 1.95% Yesterday

By Shiri Gupta

Williams-Sonoma (NYSE:WSM) traded in a range yesterday that spanned from a low of $55.74 to a high of $55.96. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $56.35 on volume of 587,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Williams-Sonoma share prices have been bracketed by a low of $45.01 and a high of $73.99 and are now at $55.88, 24% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Williams-Sonoma on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.83. Since that recommendation, shares of Williams-Sonoma have risen 7.9%. We continue to monitor WSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Williams-Sonoma

Ticker(s): WSM