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After Yesterday's Rally of 1.41% Shares Could Potentially Pullback

By Shiri Gupta

Newfield Exploration (NYSE:NFX) traded in a range yesterday that spanned from a low of $34.11 to a high of $37.00. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $35.46 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Newfield Exploration share prices have moved between a 52-week high of $50.00 and a 52-week low of $23.03 and are now trading 51% above that low price at $34.74 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Newfield Exploration and will alert subscribers who have NFX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Newfield Exploration

Ticker(s): NFX