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After Yesterday's Rally of 6.81% Shares Could Potentially Pullback

By James Quinn

Parsley Energy-A (NYSE:PE) traded in a range yesterday that spanned from a low of $18.08 to a high of $20.73. Yesterday, the shares gained 6.8%, which took the trading range above the 3-day high of $19.02 on volume of 5.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Parsley Energy-A have traded between a low of $13.72 and a high of $31.05 and are now at $19.46, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 0.2% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Parsley Energy-A on August 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.63. Since that recommendation, shares of Parsley Energy-A have risen 11.2%. We continue to monitor PE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders parsley energy-a

Ticker(s): PE