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Look for Shares of Helmerich & Payne to Potentially Pullback after Yesterday's 4.35% Rise

By Nick Russo

Helmerich & Payne (NYSE:HP) traded in a range yesterday that spanned from a low of $57.13 to a high of $59.58. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $59.24 on volume of 980,000 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, Helmerich & Payne has traded in a range of $40.02 to $85.78 and is now at $59.30, 48% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Helmerich & Payne on April 27th, 2017 by issuing a Downtrend alert when the shares were trading at $61.65. Since that call, shares of Helmerich & Payne have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders helmerich & payne

Ticker(s): HP