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Range Resources (RRC) Crosses Pivot Point Support at $6.61

By James Quinn

Range Resources (NYSE:RRC) has opened bearishly below the pivot of $6.70 today and has reached the first level of support at $6.61. Should the shares continue to fall, the support pivots of $6.48 and $6.26 will be of interest.

Range Resources (NYSE:RRC) has potential upside of 224.9% based on a current price of $6.60 and analysts' consensus price target of $21.44. The stock should find initial resistance at its 50-day moving average (MA) of $9.00 and further resistance at its 200-day MA of $12.41.

In the past 52 weeks, shares of Range Resources have traded between a low of $6.53 and a high of $18.60 and are now at $6.60, which is 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.7% while the 200-day MA has slid 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on February 6th, 2019 by issuing a Downtrend alert when the shares were trading at $10.40. Since that call, shares of Range Resources have fallen 35.2%. 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