Temple-Inland (NYSE:TIN) traded in a range yesterday that spanned from a low of $23.16 to a high of $23.58. Yesterday, the shares gained 1.52%, which took the trading range above the 3-day high of $23.39 on volume of 1.7 million shares.
Shares of Temple-Inland are currently trading above their 50-day moving average (MA) of $21.65 and above their 200-day MA of $19.33. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Temple-Inland and our subscribers were alerted to Buy on June 14, 2010 at $22.67. The stock has risen 3.5% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $23.39 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Packaging & Containers industry.