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After Yesterday's Rally of 1.66% Shares Could Potentially Pullback

By Shiri Gupta

Parsley Energy-A (NYSE:PE) traded in a range yesterday that spanned from a low of $28.28 to a high of $28.77. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $28.76 on volume of 1.3 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, Parsley Energy-A share prices have been bracketed by a low of $24.12 and a high of $39.82 and are now at $28.61, 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has risen 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Parsley Energy-A on February 8th, 2017 by issuing a Downtrend alert when the shares were trading at $30.71. Since that call, shares of Parsley Energy-A have fallen 8.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders parsley energy-a

Ticker(s): PE