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After Yesterday's Rally of 1.98% Shares Could Potentially Pullback

By Shiri Gupta

Mettler-Toledo (NYSE:MTD) traded in a range yesterday that spanned from a low of $857.75 to a high of $871.99. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $863.72 on volume of 55,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Mettler-Toledo share prices have been bracketed by a low of $500.74 and a high of $869.87 and are now at $869.29, 74% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Mettler-Toledo on June 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $753.93. Since that recommendation, shares of Mettler-Toledo have risen 13.2%. We continue to monitor MTD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders mettler-toledo

Ticker(s): MTD