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Look for Shares of Parsley Energy-A to Potentially Pullback after Yesterday's 4.32% Rise

By Nick Russo

Parsley Energy-A (NYSE:PE) traded in a range yesterday that spanned from a low of $16.75 to a high of $17.40. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $16.80 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Parsley Energy-A share prices have moved between a 52-week high of $31.05 and a 52-week low of $13.72 and are now trading 26% above that low price at $17.33 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.7%.

Keywords: rebounders parsley energy-a

Ticker(s): PE