After Yesterday's Rally of 1.23% Shares Could Potentially Pullback
Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $38.32 to a high of $39.32. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $39.10 on volume of 2.0 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, Range Resources share prices have been bracketed by a low of $19.21 and a high of $65.53 and are now at $38.61, 101% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.6% while the 200-day MA has remained constant.
SmarTrend is monitoring the recent change of momentum in Range Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Range Resources in search of a potential trend change.
Keywords: rebounders range resources