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Teledyne Tech Rises 1.71% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Teledyne Tech (NYSE:TDY) traded in a range yesterday that spanned from a low of $370.98 to a high of $377.15. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $373.38 on volume of 54,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Teledyne Tech has traded in a range of $212.37 to $375.15 and is now at $375.15, 77% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Teledyne Tech on June 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $247.47. Since that recommendation, shares of Teledyne Tech have risen 49.7%. We continue to monitor TDY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders teledyne tech

Ticker(s): TDY