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Watch for Kennametal Inc to Potentially Rebound After Falling 1.06% Yesterday

By Shiri Gupta

Kennametal Inc (NYSE:KMT) traded in a range yesterday that spanned from a low of $33.48 to a high of $34.62. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $34.24 on volume of 724,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Kennametal Inc share prices have moved between a 52-week high of $43.09 and a 52-week low of $20.40 and are now trading 67% above that low price at $34.04 per share. The 200-day and 50-day moving averages have moved 0.67% lower and 1.61% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Kennametal Inc on June 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $36.86. Since that call, shares of Kennametal Inc have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders kennametal inc

Ticker(s): KMT