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SmarTrend Watching for Potential Rebound in Shares of Terex After 1.16% Loss
Dec 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Terex (NYSE:TEX) traded in a range yesterday that spanned from a low of $25.28 to a high of $26.05. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $25.39 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of Terex on November 26th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.19. Since that recommendation, shares of Terex have risen 6.6%. We continue to monitor TEX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Terex has traded in a range of $12.30 to $26.77 and is now at $25.48, 107% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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