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Watch for Lincoln Electric to Potentially Pullback After Gaining 1.65% Yesterday

By James Quinn

Lincoln Electric (NASDAQ:LECO) traded in a range yesterday that spanned from a low of $89.50 to a high of $91.63. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $90.75 on volume of 121,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

In the past 52 weeks, Lincoln Electric share prices have been bracketed by a low of $81.48 and a high of $101.34 and are now at $91.28, 12% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Keywords: rebounders lincoln electric

Ticker(s): LECO