After Yesterday's Rally of 1.03% Shares Could Potentially Pullback
International Game Technology (NYSE:IGT) traded in a range yesterday that spanned from a low of $26.22 to a high of $26.64. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $26.49 on volume of 629,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, International Game Technology has traded in a range of $12.48 to $26.64 and is now at $26.40, 112% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of International Game Technology on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.07. Since that recommendation, shares of International Game Technology have risen 30.4%. We continue to monitor IGT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders international game technology