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Continental Resources Set to Possibly Pullback After Yesterday's Rally of 3.41%

By David Diaz

Continental Resources (NYSE:CLR) traded in a range yesterday that spanned from a low of $52.03 to a high of $53.82. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $52.95 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Continental Resources has traded in a range of $13.94 to $55.07 and is now at $53.41, 283% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 5.2%.

SmarTrend is tracking the current trend status for Continental Resources and will alert subscribers who have CLR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Continental Resources

Ticker(s): CLR