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Look for Shares of Parsley Energy-A to Potentially Rebound after Yesterday's 1.73% Sell Off

By Shiri Gupta

Parsley Energy-A (NYSE:PE) traded in a range yesterday that spanned from a low of $16.94 to a high of $17.75. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $17.07 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Parsley Energy-A on August 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.63. Since that recommendation, shares of Parsley Energy-A have risen 4.3%. We continue to monitor PE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Parsley Energy-A have traded between a low of $13.72 and a high of $31.05 and are now at $17.08, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.32% higher over the past week, respectively.

Keywords: rebounders parsley energy-a

Ticker(s): PE