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After Yesterday's Rally of 5.19% Shares Could Potentially Pullback

By James Quinn

Textron Inc (NYSE:TXT) traded in a range yesterday that spanned from a low of $26.88 to a high of $27.73. Yesterday, the shares gained 5.2%, which took the trading range above the 3-day high of $27.72 on volume of 519,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Textron Inc share prices have moved between a 52-week high of $55.07 and a 52-week low of $20.26 and are now trading 38% above that low price at $28.01 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.2%.

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

Keywords: rebounders Textron Inc

Ticker(s): TXT