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Watch for Allegheny Tech to Potentially Rebound After Falling 3.44% Yesterday

By James Quinn

Allegheny Tech (NYSE:ATI) traded in a range yesterday that spanned from a low of $26.41 to a high of $28.25. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $27.34 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Allegheny Tech share prices have moved between a 52-week high of $30.25 and a 52-week low of $21.01 and are now trading 29% above that low price at $27.18 per share. The 200-day and 50-day moving averages have moved 0.05% lower and 0.35% higher over the past week, respectively.

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

Keywords: rebounders allegheny tech

Ticker(s): ATI