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TMCNet: Watch for Titan Machinery to Potentially Pullback After Gaining 2.10% Yesterday

[April 13, 2012]

Watch for Titan Machinery to Potentially Pullback After Gaining 2.10% Yesterday

Apr 13, 2012 (SmarTrend(R) News Watch via COMTEX) -- Titan Machinery (NASDAQ:TITN) traded in a range yesterday that spanned from a low of $34.96 to a high of $36.92. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $35.33 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.


In the past 52 weeks, Titan Machinery share prices have been bracketed by a low of $15.58 and a high of $36.92 and are now at $36.00, 131% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 1.54% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Titan Machinery on March 26th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.39. Since that recommendation, shares of Titan Machinery have risen 28.7%. We continue to monitor TITN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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