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After Yesterday's Rally of 1.77% Shares Could Potentially Pullback

By Amy Schwartz

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $25.52 to a high of $26.32. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $26.11 on volume of 2.5 million 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 its subscribers protect gains by selling shares of Murphy Oil Corp on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $30.29. Since that call, shares of Murphy Oil Corp have fallen 15.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Murphy Oil Corp share prices have been bracketed by a low of $23.61 and a high of $35.19 and are now at $26.26, 11% above that low price. The 200-day and 50-day moving averages have moved 0.31% lower and 5.25% higher over the past week, respectively.

Keywords: rebounders murphy oil corp

Ticker(s): MUR