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Terex Corp Set to Possibly Pullback After Yesterday's Rally of 18.98%

By Amy Schwartz

Terex Corp (NYSE:TEX) traded in a range yesterday that spanned from a low of $29.50 to a high of $30.33. Yesterday, the shares gained 19.0%, which took the trading range above the 3-day high of $30.10 on volume of 257,000 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, Terex Corp has traded in a range of $22.84 to $38.57 and is now at $29.90, 31% above that low. The 200-day and 50-day moving averages have moved 0.05% lower and 1.24% higher over the past week, respectively.

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

Keywords: rebounders terex corp

Ticker(s): TEX