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SmarTrend Watching for Potential Pullback in Shares of Allegion Plc After 1.32% Gain

By Nick Russo

Allegion Plc (NYSE:ALLE) traded in a range yesterday that spanned from a low of $126.04 to a high of $126.97. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $125.50 on volume of 323,000 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 Allegion Plc have traded between a low of $80.79 and a high of $126.97 and are now at $126.98, which is 57% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Allegion Plc on September 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.30. Since that recommendation, shares of Allegion Plc have risen 26.2%. We continue to monitor ALLE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders allegion plc

Ticker(s): ALLE