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Tech Data Corp Set to Possibly Rebound After Yesterday's Selloff of 18.00%

Mar 08, 2018 (SmarTrend(R) News Watch via COMTEX) --

Tech Data Corp (NASDAQ:TECD) traded in a range yesterday that spanned from a low of $86.36 to a high of $100.00. Yesterday, the shares fell 18.0%, which took the trading range below the 3-day low of $102.85 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, shares of Tech Data Corp have traded between a low of $67.67 and a high of $111.10 and are now at $87.60, which is 29% 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 declined 0.7%.

SmarTrend recommended that subscribers consider buying shares of Tech Data Corp on February 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $101.00. Since that recommendation, shares of Tech Data Corp have risen 6.6%. We continue to monitor TECD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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