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Look for Shares of Newfield Explora to Potentially Rebound after Yesterday's 1.75% Sell Off

By Amy Schwartz

Newfield Explora (NYSE:NFX) traded in a range yesterday that spanned from a low of $25.70 to a high of $26.40. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $26.14 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Newfield Explora on May 18th, 2017 by issuing a Downtrend alert when the shares were trading at $33.72. Since that call, shares of Newfield Explora have fallen 22.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Newfield Explora share prices have been bracketed by a low of $25.46 and a high of $50.00 and are now at $25.80, 1% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.4%.

Keywords: rebounders newfield explora

Ticker(s): NFX