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Middleby Corp Set to Possibly Pullback After Yesterday's Rally of 1.92%

By Nick Russo

Middleby Corp (NASDAQ:MIDD) traded in a range yesterday that spanned from a low of $123.67 to a high of $126.08. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $124.21 on volume of 235,000 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 Middleby Corp have traded between a low of $108.45 and a high of $150.87 and are now at $125.68, which is 16% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 1.62% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Middleby Corp on April 4th, 2017 by issuing a Downtrend alert when the shares were trading at $134.81. Since that call, shares of Middleby Corp have fallen 8.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders middleby corp

Ticker(s): MIDD