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After Yesterday's Decline of 2.23%, Kennametal Inc Offers Investors Better Value

By Amy Schwartz

Kennametal Inc (NYSE:KMT) traded in a range yesterday that spanned from a low of $33.59 to a high of $34.96. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $33.77 on volume of 152,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Kennametal Inc share prices have been bracketed by a low of $30.32 and a high of $45.10 and are now at $33.89, 12% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

SmarTrend is monitoring the recent change of momentum in Kennametal Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kennametal Inc in search of a potential trend change.

Keywords: rebounders kennametal inc

Ticker(s): KMT