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After Yesterday's Rally of 1.16% Shares Could Potentially Pullback

By Nick Russo

Noble Energy (NYSE:NBL) traded in a range yesterday that spanned from a low of $31.19 to a high of $31.80. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $31.42 on volume of 3.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Noble Energy share prices have moved between a 52-week high of $52.69 and a 52-week low of $23.77 and are now trading 32% above that low price at $31.47 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Noble Energy on January 9th, 2017 by issuing a Downtrend alert when the shares were trading at $37.57. Since that call, shares of Noble Energy have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Noble Energy

Ticker(s): NBL