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Look for Shares of Oasis Petroleum to Potentially Pullback after Yesterday's 2.98% Rise

By Nick Russo

Oasis Petroleum (NYSE:OAS) traded in a range yesterday that spanned from a low of $7.50 to a high of $7.74. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $7.47 on volume of 5.8 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 Oasis Petroleum have traded between a low of $6.56 and a high of $17.08 and are now at $7.62, which is 16% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 4.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oasis Petroleum on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $13.52. Since that call, shares of Oasis Petroleum have fallen 45.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders oasis petroleum

Ticker(s): OAS