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Look for Shares of Canadian Natural Resources to Potentially Rebound after Yesterday's 3.50% Sell Off

By James Quinn

Canadian Natural Resources (NYSE:CNQ) traded in a range yesterday that spanned from a low of $28.39 to a high of $29.47. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $28.53 on volume of 1.2 million 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 Canadian Natural Resources and will alert subscribers who have CNQ in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Canadian Natural Resources has traded in a range of $14.60 to $35.28 and is now at $28.48, 95% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.4%.

Keywords: rebounders canadian natural resources

Ticker(s): CNQ