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Shares of Range Resources Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Range Resources (NYSE:RRC) traded today at a new 52-week low of $19.14. This new low was reached on approximately average trading volume as 4.4 million shares traded hands, while the average 30-day volume is approximately 4.6 million shares.

Potential upside of 99.7% exists for Range Resources, based on a current level of $19.18 and analysts' average consensus price target of $38.31. The stock should find initial resistance at its 200-day moving average (MA) of $32.01 and further resistance at its 50-day MA of $34.22.

In the past 52 weeks, Range Resources share prices have been bracketed by a current low of $19.14 and a high of $46.96 and are now at $19.18. 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.

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 24.7%. 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