After Yesterday's Rally of 4.19% Shares Could Potentially Pullback
Trinity Industries (NYSE:TRN) traded in a range yesterday that spanned from a low of $20.62 to a high of $21.89. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $21.20 on volume of 3.4 million 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, Trinity Industries share prices have been bracketed by a low of $14.94 and a high of $31.80 and are now at $21.74, 46% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of Trinity Industries on June 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.34. Since that recommendation, shares of Trinity Industries have risen 8.5%. We continue to monitor TRN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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