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

By James Quinn

Range Resources (NYSE:RRC) traded at a new 52-week low today of $5.82. This new low was reached on below average trading volume as 2 million shares traded hands, while the average 30-day volume is approximately 8.5 million shares.

Over the past year, Range Resourceshas traded in a range of $5.82 to $18.60 and are now at $5.82. The 200-day and 50-day moving averages have moved 1.46% lower and 2.17% lower over the past week, respectively.

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.

Range Resources has overhead space with shares priced $5.82, or 72.9% below the average consensus analyst price target of $21.44. The stock should run into initial resistance at its 50-day moving average (MA) of $7.58 and subsequent resistance at its 200-day MA of $11.40.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on February 6th, 2019 by issuing a Downtrend alert when the shares were trading at $10.40. Since that call, shares of Range Resources have fallen 42.2%. 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