Triumph (NYSE:TGI) traded in a range yesterday that spanned from a low of $76.38 to a high of $78.43. Yesterday, the shares gained 0.17%, which took the trading range above the 3-day high of $76.95 on volume of 312,000 shares.
Shares of Triumph are currently trading above their 50-day moving average (MA) of $68.04 and above their 200-day MA of $59.32. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Triumph and our subscribers were alerted to Buy on June 17, 2010 at $67.94. The stock has risen 13.4% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $76.95 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Aerospace/Defense industry.