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Look for Shares of Range Resources to Potentially Rebound after Yesterday's 3.87% Sell Off

By James Quinn

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $8.95 to a high of $9.56. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $9.13 on volume of 2.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Range Resources have traded between a low of $8.49 and a high of $18.60 and are now at $8.95, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.2%.

SmarTrend is tracking the current trend status for Range Resources and will alert subscribers who have RRC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders range resources

Ticker(s): RRC