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After Yesterday's Rally of 1.81% Shares Could Potentially Pullback

By David Diaz

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $21.59 to a high of $22.44. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $22.36 on volume of 1.8 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, shares of Range Resources have traded between a low of $20.94 and a high of $46.96 and are now at $22.39, which is 7% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $26.96. Since that call, shares of Range Resources have fallen 19.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders range resources

Ticker(s): RRC