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Allegheny Tech (ATI) Crosses Pivot Point Support at $25.25

By Shiri Gupta

Allegheny Tech (NYSE:ATI) has opened bearishly below the pivot of $25.35 today and has reached the first level of support at $25.25. Should the shares continue to fall, the support pivots of $25.14 and $24.93 will be of interest.

In the past 52 weeks, Allegheny Tech share prices have been bracketed by a low of $20.84 and a high of $30.18 and are now at $25.17, 21% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Potential upside of 31.9% exists for Allegheny Tech, based on a current level of $25.17 and analysts' average consensus price target of $33.20. Allegheny Tech shares should first meet resistance at the 50-day moving average (MA) of $26.37 and find additional resistance at the 200-day MA of $26.60.

SmarTrend is monitoring the recent change of momentum in Allegheny Tech. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Allegheny Tech in search of a potential trend change.

Keywords: pivot alerts allegheny tech

Ticker(s): ATI