• Return to Headlines

Watch for Continued Losses in Shares of Range Resources (RRC)

By David Diaz

Shares of Range Resources (NYSE:RRC) traded at a new 52-week low today of $16.50. This new low was reached on below average trading volume as 773,000 shares traded hands, while the average 30-day volume is approximately 4.6 million shares.

Range Resources has overhead space with shares priced $16.68, or 56.5% below the 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.

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.

In the past 52 weeks, shares of Range Resources have traded between the current low of $16.50 and a high of $46.96 and are now at $16.68. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

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 37.2%. 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