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After Yesterday's Rally of 2.18% Shares Could Potentially Pullback

By Nick Russo

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $29.60 to a high of $30.53. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $29.89 on volume of 647,000 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, Murphy Oil Corp share prices have been bracketed by a low of $22.21 and a high of $35.19 and are now at $30.31, 36% 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.

SmarTrend is tracking the current trend status for Murphy Oil Corp and will alert subscribers who have MUR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders murphy oil corp

Ticker(s): MUR