Helmerich & Payne Bearish Moving Average Crossover Alert (HP)
Helmerich & Payne (NYSE:HP) crossed under its 10-day moving average of $67.34 on a volume of 325K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Helmerich & Payne share prices have moved between a 52-week high of $79.90 and a 52-week low of $40.02 and are now trading 67% above that low price at $66.80 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.
SmarTrend recommended that subscribers consider buying shares of Helmerich & Payne on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.37. Since that recommendation, shares of Helmerich & Payne have risen 9.3%. We continue to monitor HP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses helmerich & payne