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Manitowoc Co Rises 1.70% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Manitowoc Co (NYSE:MTW) traded in a range yesterday that spanned from a low of $13.17 to a high of $13.64. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $13.18 on volume of 189,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Manitowoc Co on January 22nd, 2020 by issuing a Downtrend alert when the shares were trading at $15.80. Since that call, shares of Manitowoc Co have fallen 18.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Manitowoc Co have traded between a low of $10.49 and a high of $19.77 and are now at $13.17, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.6%.

Keywords: rebounders manitowoc co

Ticker(s): MTW