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SmarTrend Watching for Potential Pullback in Shares of Manitowoc Co After 44.64% Gain

By David Diaz

Manitowoc Co (NYSE:MTW) traded in a range yesterday that spanned from a low of $15.44 to a high of $17.10. Yesterday, the shares gained 44.6%, which took the trading range above the 3-day high of $14.41 on volume of 593,000 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, Manitowoc Co share prices have been bracketed by a low of $10.49 and a high of $22.00 and are now at $16.46, 57% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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

Keywords: rebounders manitowoc co

Ticker(s): MTW