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After Yesterday's Rally of 2.73% Shares Could Potentially Pullback

By Amy Schwartz

Ensco Plc-Cl A (NYSE:ESV) traded in a range yesterday that spanned from a low of $5.28 to a high of $5.51. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $5.34 on volume of 9.2 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, Ensco Plc-Cl A share prices have been bracketed by a low of $4.71 and a high of $12.04 and are now at $5.42, 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ensco Plc-Cl A on February 8th, 2017 by issuing a Downtrend alert when the shares were trading at $9.91. Since that call, shares of Ensco Plc-Cl A have fallen 46.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders ensco plc-cl a

Ticker(s): ESV