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SmarTrend Watching for Potential Pullback in Shares of United Tech Corp After 1.11% Gain

By Shiri Gupta

United Tech Corp (NYSE:UTX) traded in a range yesterday that spanned from a low of $133.98 to a high of $135.55. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $134.50 on volume of 1.4 million 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, United Tech Corp share prices have been bracketed by a low of $109.34 and a high of $139.24 and are now at $135.33, 24% above that low price. The 200-day and 50-day moving averages have moved 0.20% higher and 0.40% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of United Tech Corp on May 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $124.97. Since that recommendation, shares of United Tech Corp have risen 7.1%. We continue to monitor UTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders united tech corp

Ticker(s): UTX