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Watch for United Tech Corp to Potentially Pullback After Gaining 1.23% Yesterday

By Nick Russo

United Tech Corp (NYSE:UTX) traded in a range yesterday that spanned from a low of $134.34 to a high of $135.63. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $135.01 on volume of 969,000 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 monitoring the recent change of momentum in United Tech Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of United Tech Corp in search of a potential trend change.

United Tech Corp share prices have moved between a 52-week high of $144.40 and a 52-week low of $100.48 and are now trading 35% above that low price at $135.46 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Keywords: rebounders united tech corp

Ticker(s): UTX