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Oasis Petroleum Falls 2.98% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Oasis Petroleum (NYSE:OAS) traded in a range yesterday that spanned from a low of $10.57 to a high of $11.39. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $10.83 on volume of 51.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Oasis Petroleum share prices have moved between a 52-week high of $18.15 and a 52-week low of $3.39 and are now trading 221% above that low price at $10.87 per share. The 200-day and 50-day moving averages have moved 0.61% lower and 4.32% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Oasis Petroleum on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.46. Since that recommendation, shares of Oasis Petroleum have risen 32.7%. We continue to monitor OAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders oasis petroleum

Ticker(s): OAS