• Return to Headlines

Look for Shares of Canadian Natural Resources to Potentially Rebound after Yesterday's 4.45% Sell Off

By Nick Russo

Canadian Natural Resources (NYSE:CNQ) traded in a range yesterday that spanned from a low of $28.35 to a high of $29.43. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $28.71 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.

In the past 52 weeks, shares of Canadian Natural Resources have traded between a low of $14.60 and a high of $35.28 and are now at $28.40, which is 95% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has risen 0.3%.

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.

Keywords: rebounders canadian natural resources

Ticker(s): CNQ