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After Yesterday's Rally of 2.69% Shares Could Potentially Pullback

By Nick Russo

Oceaneering Intl (NYSE:OII) traded in a range yesterday that spanned from a low of $15.54 to a high of $15.63. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $15.35 on volume of 659,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Oceaneering Intl. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Oceaneering Intl in search of a potential trend change.

Over the past year, Oceaneering Intl has traded in a range of $10.74 to $28.62 and is now at $15.63, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.2%.

Keywords: rebounders oceaneering intl

Ticker(s): OII