EnCana Set to Possibly Pullback After Yesterday's Rally of 4.41%
EnCana (NYSE:ECA) traded in a range yesterday that spanned from a low of $11.20 to a high of $11.74. Yesterday, the shares gained 4.4%, which took the trading range above the 3-day high of $11.36 on volume of 9.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of EnCana on May 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.48. Since that recommendation, shares of EnCana have risen 48.8%. We continue to monitor ECA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
EnCana share prices have moved between a 52-week high of $14.73 and a 52-week low of $3.00 and are now trading 289% above that low price at $11.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.6% while the 200-day MA has slid 0.8%.
Keywords: rebounders encana