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

By Shiri Gupta

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.

In the past 52 weeks, shares of Allegheny Tech have traded between a low of $21.01 and a high of $30.25 and are now at $27.18, which is 29% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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