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After Yesterday's Rally of 44.64% Shares Could Potentially Pullback

By Shiri Gupta

Manitowoc Co (NYSE:MTW) traded in a range yesterday that spanned from a low of $15.44 to a high of $17.10. Yesterday, the shares gained 44.6%, which took the trading range above the 3-day high of $14.41 on volume of 593,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Manitowoc Co and will alert subscribers who have MTW in their portfolio or watchlist when shares have changed trend direction.

Manitowoc Co share prices have moved between a 52-week high of $22.00 and a 52-week low of $10.49 and are now trading 57% above that low price at $16.46 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders manitowoc co

Ticker(s): MTW