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Look for Shares of SPDR S&P Oil & Gas Exploration & Production ETF to Potentially Rebound after Yesterday's 2.61% Sell Off

By Amy Schwartz

SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $34.86 to a high of $35.51. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $35.79 on volume of 9.1 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 59% above that low price at $35.11 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 2.6%.

SmarTrend is tracking the current trend status for SPDR S&P Oil & Gas Exploration & Production ETF and will alert subscribers who have XOP in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): XOP