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After Yesterday's Decline of 2.96%, Manitowoc Co Offers Investors Better Value

By Amy Schwartz

Manitowoc Co (NYSE:MTW) traded in a range yesterday that spanned from a low of $16.34 to a high of $17.44. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $16.40 on volume of 181,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Manitowoc Co share prices have moved between a 52-week high of $44.03 and the current low of $16.34 and are currently at $16.38 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.2% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Manitowoc Co on March 1st, 2018 by issuing a Downtrend alert when the shares were trading at $28.78. Since that call, shares of Manitowoc Co have fallen 41.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders manitowoc co

Ticker(s): MTW