Lincoln Electric Holdings (NASDAQ:LECO) traded in a range yesterday that spanned from a low of $55.75 to a high of $56.85. Yesterday, the shares gained 0.52%, which took the trading range above the 3-day high of $55.91 on volume of 209,000 shares.
Shares of Lincoln Electric Holdings are currently trading above their 50-day moving average (MA) of $53.23 and above their 200-day MA of $53.03. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Lincoln Electric Holdings and our subscribers were alerted to Buy on July 23, 2010 at $53.70. The stock has risen 4.7% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $55.91 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Small Tools & Accessories industry.