• Return to Headlines

Look for Shares of United States Natural Gas Fund LP to Potentially Rebound after Yesterday's 2.28% Sell Off

By Amy Schwartz

United States Natural Gas Fund LP (NYSE:UNG) traded in a range yesterday that spanned from a low of $7.45 to a high of $7.58. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $7.66 on volume of 5.9 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 United States Natural Gas Fund LP on March 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.42. Since that recommendation, shares of United States Natural Gas Fund LP have risen 3.5%. We continue to monitor UNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, United States Natural Gas Fund LP share prices have been bracketed by a low of $5.78 and a high of $15.28 and are now at $7.48, 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 0.2%.

Keywords: rebounders united states natural gas fund lp

Ticker(s): UNG