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Look for Shares of Allegheny Tech to Potentially Pullback after Yesterday's 2.91% Rise

By Shiri Gupta

Allegheny Tech (NYSE:ATI) traded in a range yesterday that spanned from a low of $17.50 to a high of $18.17. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $18.09 on volume of 704,000 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, shares of Allegheny Tech have traded between a low of $11.33 and a high of $23.69 and are now at $18.09, which is 60% above that low price. The 200-day and 50-day moving averages have moved 1.21% lower and 1.91% higher over the past week, respectively.

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

Keywords: rebounders allegheny tech

Ticker(s): ATI