• Return to Headlines

Newfield Explora Falls 1.75% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Newfield Explora (NYSE:NFX) traded in a range yesterday that spanned from a low of $25.70 to a high of $26.40. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $26.14 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Newfield Explora has traded in a range of $25.46 to $50.00 and is now at $25.80, 1% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Newfield Explora on May 18th, 2017 by issuing a Downtrend alert when the shares were trading at $33.72. Since that call, shares of Newfield Explora have fallen 22.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders newfield explora

Ticker(s): NFX