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Laredo Petroleum Falls 2.33% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Laredo Petroleum (NYSE:LPI) traded in a range yesterday that spanned from a low of $2.48 to a high of $2.56. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $2.51 on volume of 983,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

Laredo Petroleum share prices have moved between a 52-week high of $4.13 and a 52-week low of $2.03 and are now trading 24% above that low price at $2.52 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.

Keywords: rebounders laredo petroleum

Ticker(s): LPI