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After Yesterday's Rally of 2.23% Shares Could Potentially Pullback

By James Quinn

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $17.68 to a high of $18.42. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $18.10 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Range Resources share prices have moved between a 52-week high of $46.96 and a 52-week low of $16.50 and are now trading 11% above that low price at $18.36 per share. Over the last five market days, 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 33.4%. 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