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After Yesterday's Rally of 1.90% Shares Could Potentially Pullback

By Shiri Gupta

Noble Energy Inc (NYSE:NBL) traded in a range yesterday that spanned from a low of $30.00 to a high of $30.48. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $29.96 on volume of 2.0 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 Noble Energy Inc have traded between a low of $24.29 and a high of $37.76 and are now at $30.33, which is 25% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 1.02% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Noble Energy Inc on August 3rd, 2018 by issuing a Downtrend alert when the shares were trading at $32.82. Since that call, shares of Noble Energy Inc have fallen 9.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders noble energy inc

Ticker(s): NBL