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Mcdermott Intl Set to Possibly Pullback After Yesterday's Rally of 2.12%

By Shiri Gupta

Mcdermott Intl (NYSE:MDR) traded in a range yesterday that spanned from a low of $7.38 to a high of $7.83. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $7.75 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Mcdermott Intl share prices have moved between a 52-week high of $21.09 and a 52-week low of $5.91 and are now trading 31% above that low price at $7.76 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 1.7%.

Keywords: rebounders mcdermott intl

Ticker(s): MDR