After Yesterday's Rally of 1.61% Shares Could Potentially Pullback
SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $34.64 to a high of $35.72. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $35.39 on volume of 5.1 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, SPDR S&P Oil & Gas Exploration & Production ETF share prices have been bracketed by a low of $22.06 and a high of $79.11 and are now at $35.37, 60% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 2.62% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in SPDR S&P Oil & Gas Exploration & Production ETF. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SPDR S&P Oil & Gas Exploration & Production ETF in search of a potential trend change.
Keywords: rebounders amex:xop spdr s&p oil & gas exploration & production etf