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Next Support Level for Range Resources (RRC) is $21.30

By Shiri Gupta

Shares of Range Resources (NYSE:RRC) opened today below their pivot of $22.56 and have already reached the first level of support at $21.74. Investors may be interested in a cross of the next downside pivot targets of $21.30 and $20.04.

Over the past year, Range Resources has traded in a range of $19.21 to $65.53 and is now at $21.74, 13% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

There is potential upside of 115.1% for shares of Range Resources based on a current price of $21.74 and an average consensus analyst price target of $46.77. The stock should find initial resistance at its 200-day moving average (MA) of $32.01 and further resistance at its 50-day MA of $34.22.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $26.96. Since that call, shares of Range Resources have fallen 17.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts range resources

Ticker(s): RRC