• Return to Headlines

Mcdermott Intl Rises 12.14% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Mcdermott Intl (NYSE:MDR) traded in a range yesterday that spanned from a low of $9.69 to a high of $10.25. Yesterday, the shares gained 12.1%, which took the trading range above the 3-day high of $9.15 on volume of 5.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Mcdermott Intl has traded in a range of $6.00 to $23.36 and is now at $10.25, 71% above that low. The 200-day and 50-day moving averages have moved 1.36% lower and 0.14% lower over the past week, respectively.

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

Keywords: rebounders mcdermott intl

Ticker(s): MDR