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Look for Shares of Laredo Petroleum to Potentially Rebound after Yesterday's 5.03% Sell Off

By James Quinn

Laredo Petroleum (NYSE:LPI) traded in a range yesterday that spanned from a low of $1.45 to a high of $1.58. Yesterday, the shares fell 5.0%, which took the trading range below the 3-day low of $1.52 on volume of 2.6 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 Laredo Petroleum and will alert subscribers who have LPI in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Laredo Petroleum have traded between the current low of $1.45 and a high of $3.94 and are now at $1.51. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.6%.

Keywords: rebounders laredo petroleum

Ticker(s): LPI