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Look for Shares of Harman International Industries to Potentially Pullback after Yesterday's 3.84% Rise

By David Diaz

Harman International Industries (NYSE:HAR) traded in a range yesterday that spanned from a low of $80.77 to a high of $83.95. Yesterday, the shares gained 3.8%, which took the trading range above the 3-day high of $82.96 on volume of 438,000 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 Harman International Industries have traded between a low of $64.93 and a high of $132.74 and are now at $83.33, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

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

Keywords: rebounders harman international industries

Ticker(s): HAR