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After Yesterday's Rally of 11.90% Shares Could Potentially Pullback

By Amy Schwartz

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $33.70 to a high of $36.53. Yesterday, the shares gained 11.9%, which took the trading range above the 3-day high of $34.18 on volume of 6.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Murphy Oil Corp have traded between a low of $24.39 and a high of $36.53 and are now at $35.49, which is 45% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 0.07% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Murphy Oil Corp and will alert subscribers who have MUR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders murphy oil corp

Ticker(s): MUR