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Look for Shares of SPDR S&P Oil & Gas Exploration & Production ETF to Potentially Rebound after Yesterday's 1.62% Sell Off

By Nick Russo

SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $35.71 to a high of $36.60. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $36.06 on volume of 7.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SPDR S&P Oil & Gas Exploration & Production ETF share prices have moved between a 52-week high of $79.11 and a 52-week low of $22.06 and are now trading 62% above that low price at $35.84 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 2.6%.

SmarTrend is monitoring the recent change of momentum in SPDR S&P Oil & Gas Exploration & Production ETF. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SPDR S&P Oil & Gas Exploration & Production ETF in search of a potential trend change.

Keywords: rebounders amex:xop spdr s&p oil & gas exploration & production etf

Ticker(s): XOP