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After Yesterday's Rally of 1.39% Shares Could Potentially Pullback

By Amy Schwartz

Dril-Quip (NYSE:DRQ) traded in a range yesterday that spanned from a low of $50.00 to a high of $51.22. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $51.00 on volume of 187,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Dril-Quip. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dril-Quip in search of a potential trend change.

Over the past year, Dril-Quip has traded in a range of $46.90 to $81.68 and is now at $50.85, 8% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

Keywords: rebounders dril-quip

Ticker(s): DRQ