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After Yesterday's Rally of 1.13% Shares Could Potentially Pullback

By Shiri Gupta

Anadarko Petrole (NYSE:APC) traded in a range yesterday that spanned from a low of $43.99 to a high of $45.07. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $44.96 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Anadarko Petrole has traded in a range of $42.58 to $73.33 and is now at $44.84, 5% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Anadarko Petrole on February 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $66.24. Since that call, shares of Anadarko Petrole have fallen 33.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders anadarko petrole

Ticker(s): APC