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After Yesterday's Rally of 1.24% Shares Could Potentially Pullback

By Shiri Gupta

Scotts Miracle (NYSE:SMG) traded in a range yesterday that spanned from a low of $94.47 to a high of $96.15. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $94.86 on volume of 167,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Scotts Miracle share prices have moved between a 52-week high of $96.15 and a 52-week low of $57.96 and are now trading 65% above that low price at $95.88 per share. The 200-day and 50-day moving averages have moved 0.49% higher and 1.38% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Scotts Miracle on April 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.45. Since that recommendation, shares of Scotts Miracle have risen 15.1%. 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