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After Yesterday's Rally of 1.85% Shares Could Potentially Pullback

By Nick Russo

Parsley Energy-A (NYSE:PE) traded in a range yesterday that spanned from a low of $16.40 to a high of $16.81. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $16.49 on volume of 1.2 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 Parsley Energy-A on May 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $19.21. Since that call, shares of Parsley Energy-A have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Parsley Energy-A has traded in a range of $13.72 to $31.05 and is now at $16.53, 20% above that low. The 200-day and 50-day moving averages have moved 0.57% lower and 0.46% lower over the past week, respectively.

Keywords: rebounders parsley energy-a

Ticker(s): PE