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SmarTrend Watching for Potential Pullback in Shares of Allegheny Tech After 5.86% Gain

By Amy Schwartz

Allegheny Tech (NYSE:ATI) traded in a range yesterday that spanned from a low of $19.61 to a high of $20.40. Yesterday, the shares gained 5.9%, which took the trading range above the 3-day high of $20.25 on volume of 859,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Allegheny Tech and will alert subscribers who have ATI in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Allegheny Tech have traded between a low of $17.03 and a high of $29.50 and are now at $20.22, which is 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

Keywords: rebounders allegheny tech

Ticker(s): ATI