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SmarTrend Watching for Potential Rebound in Shares of United Tech Corp After 4.70% Loss

By David Diaz

United Tech Corp (NYSE:UTX) traded in a range yesterday that spanned from a low of $112.10 to a high of $115.90. Yesterday, the shares fell 4.7%, which took the trading range below the 3-day low of $117.82 on volume of 6.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in United Tech Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of United Tech Corp in search of a potential trend change.

Over the past year, United Tech Corp has traded in a range of $96.89 to $124.79 and is now at $112.20, 16% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Keywords: rebounders united tech corp

Ticker(s): UTX