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Scotts Miracle-Gro Drops On Earnings: Here's The Trade

Published 08/01/2018, 01:38 PM
Updated 05/14/2017, 06:45 AM

Lawn and garden products company Scotts Miracle-Gro (NYSE:SMG) reported earnings Tuesday night that are not being well received by investors. Indeed, SMG stock traded lower Wednesday by 3.64% to $76.54 a share. The stock has been steadily declining since the start of the year and is now in a confirmed downtrend and trading below its important 200- and 50-day moving averages.

Watch This Level

Traders and investors will now need to watch $70 for major support, which is where the stock broke out in July 2016. Often, prior breakout levels will be defended by the institutional crowd when retested.

Scotts Miracle-Gro Company

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