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Lincoln Electric Set to Possibly Rebound After Yesterday's Selloff of 1.24%

By James Quinn

Lincoln Electric (NASDAQ:LECO) traded in a range yesterday that spanned from a low of $83.92 to a high of $85.08. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $84.47 on volume of 95,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Lincoln Electric have traded between a low of $72.27 and a high of $97.93 and are now at $84.22, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Lincoln Electric on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.39. Since that recommendation, shares of Lincoln Electric have risen 6.0%. We continue to monitor LECO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lincoln electric

Ticker(s): LECO