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SmarTrend Watching for Potential Rebound in Shares of Mettler-Toledo After 1.88% Loss

By Amy Schwartz

Mettler-Toledo (NYSE:MTD) traded in a range yesterday that spanned from a low of $596.47 to a high of $618.32. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $603.58 on volume of 61,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Mettler-Toledo on November 1st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $555.49. Since that recommendation, shares of Mettler-Toledo have risen 9.8%. We continue to monitor MTD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Mettler-Toledo has traded in a range of $521.79 to $697.26 and is now at $598.60, 15% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Keywords: rebounders mettler-toledo

Ticker(s): MTD