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RPC Bearish Moving Average Crossover Alert (RES)

By Nick Russo

RPC (NYSE:RES) crossed under its 10-day moving average of $20.37 on a volume of 324K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of RPC have traded between a low of $8.45 and a high of $23.36 and are now at $20.16, which is 139% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of RPC on May 19th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.61. Since that recommendation, shares of RPC have risen 7.2%. We continue to monitor RES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses

Ticker(s): RES RPC