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Look for Shares of Spectrum Brands to Potentially Rebound after Yesterday's 4.28% Sell Off

By Amy Schwartz

Spectrum Brands (NYSE:SPB) traded in a range yesterday that spanned from a low of $37.25 to a high of $40.08. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $37.61 on volume of 72,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Spectrum Brands share prices have moved between a 52-week high of $66.50 and a 52-week low of $19.59 and are now trading 95% above that low price at $38.20 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.7% while the 200-day MA has slid 0.7%.

SmarTrend is tracking the current trend status for Spectrum Brands and will alert subscribers who have SPB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders spectrum brands

Ticker(s): SPB