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Textron Inc Set to Possibly Rebound After Yesterday's Selloff of 1.36%

By Nick Russo

Textron Inc (NYSE:TXT) traded in a range yesterday that spanned from a low of $48.66 to a high of $49.23. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $49.44 on volume of 246,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Textron Inc has traded in a range of $42.30 to $58.00 and is now at $48.64, 15% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Textron Inc and will alert subscribers who have TXT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Textron Inc

Ticker(s): TXT