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Look for Shares of Allegion Plc to Potentially Pullback after Yesterday's 1.64% Rise

By Amy Schwartz

Allegion Plc (NYSE:ALLE) traded in a range yesterday that spanned from a low of $101.21 to a high of $102.18. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $100.52 on volume of 424,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Allegion Plc has traded in a range of $74.83 to $111.99 and is now at $101.98, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has risen 0.2%.

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

Keywords: rebounders allegion plc

Ticker(s): ALLE