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Look for Shares of Manitowoc Co to Potentially Rebound after Yesterday's 2.96% Sell Off

By Nick Russo

Manitowoc Co (NYSE:MTW) traded in a range yesterday that spanned from a low of $16.34 to a high of $17.44. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $16.40 on volume of 181,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Manitowoc Co on March 1st, 2018 by issuing a Downtrend alert when the shares were trading at $28.78. Since that call, shares of Manitowoc Co have fallen 41.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Manitowoc Co share prices have been bracketed by a current low of $16.34 and a high of $44.03 and are now at $16.38. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 2.2%.

Keywords: rebounders manitowoc co

Ticker(s): MTW