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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. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.9%.

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