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Range Resources Looks to Continue to Trade Below its Annual-Low Share Price Today

By James Quinn

Range Resources (NYSE:RRC) traded today at a new 52-week low of $20.81. This new low was reached on below average trading volume as 809,000 shares traded hands, while the average 30-day volume is approximately 4.6 million shares.

Over the past year, Range Resourceshas traded in a range of $20.81 to $46.96 and are now at $20.92. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

Range Resources Corporation is an independent oil and gas company that explores, develops, and acquires oil and gas properties. The Company conducts operations primarily in the Southwestern, Appalachian, and Gulf Coast regions of the United States.

There is potential upside of 83.1% for shares of Range Resources based on a current price of $20.92 and an average consensus analyst price target of $38.31. Range Resources shares should first meet resistance at the 200-day moving average (MA) of $32.01 and find additional resistance at the 50-day MA of $34.22.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $26.96. Since that call, shares of Range Resources have fallen 22.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows range resources

Ticker(s): RRC