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Look for Shares of Whiting Petroleu to Potentially Rebound after Yesterday's 3.03% Sell Off

By Shiri Gupta

Whiting Petroleu (NYSE:WLL) traded in a range yesterday that spanned from a low of $8.23 to a high of $8.43. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $8.39 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Whiting Petroleuhas traded in a range of $8.23 to $55.17 and are now at $8.41. Over the last five market days, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has declined 3.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Whiting Petroleu on May 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $23.86. Since that call, shares of Whiting Petroleu have fallen 64.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders whiting petroleu

Ticker(s): WLL