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Look for Shares of Newfield Explora to Potentially Pullback after Yesterday's 1.81% Rise

By David Diaz

Newfield Explora (NYSE:NFX) traded in a range yesterday that spanned from a low of $29.08 to a high of $29.67. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $29.13 on volume of 1.4 million 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, shares of Newfield Explora have traded between a low of $22.72 and a high of $50.00 and are now at $29.56, which is 30% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 1.36% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Newfield Explora. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newfield Explora in search of a potential trend change.

Keywords: rebounders newfield explora

Ticker(s): NFX