After Yesterday's Rally of 1.56% Shares Could Potentially Pullback
Carrizo Oil & Gas (NASDAQ:CRZO) traded in a range yesterday that spanned from a low of $38.69 to a high of $40.00. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $39.10 on volume of 728,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Carrizo Oil & Gas on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.91. Since that recommendation, shares of Carrizo Oil & Gas have risen 8.2%. We continue to monitor CRZO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Carrizo Oil & Gas has traded in a range of $16.10 to $56.26 and is now at $39.41, 145% above that low. The 200-day and 50-day moving averages have moved 0.36% lower and 3.22% higher over the past week, respectively.
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