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Look for Shares of Murphy Oil Corp to Potentially Pullback after Yesterday's 4.22% Rise

By Nick Russo

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $23.82 to a high of $24.48. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $23.95 on volume of 228,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Murphy Oil Corp share prices have been bracketed by a low of $17.04 and a high of $33.21 and are now at $24.45, 43% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 0.12% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Murphy Oil Corp and will alert subscribers who have MUR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders murphy oil corp

Ticker(s): MUR