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After Yesterday's Rally of 2.15% Shares Could Potentially Pullback

By Shiri Gupta

Atwood Oceanics (NYSE:ATW) traded in a range yesterday that spanned from a low of $12.37 to a high of $12.94. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $12.90 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Atwood Oceanics share prices have been bracketed by a low of $4.82 and a high of $35.66 and are now at $12.49, 159% above that low price. The 200-day and 50-day moving averages have moved 2.12% lower and 2.25% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Atwood Oceanics on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.00. Since that recommendation, shares of Atwood Oceanics have risen 76.4%. We continue to monitor ATW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders atwood oceanics

Ticker(s): ATW