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Range Resources Set to Possibly Rebound After Yesterday's Selloff of 1.16%

By David Diaz

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $27.08 to a high of $27.45. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $27.28 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on December 15th, 2016 by issuing a Downtrend alert when the shares were trading at $35.04. Since that call, shares of Range Resources have fallen 21.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Range Resources share prices have been bracketed by a low of $19.21 and a high of $65.53 and are now at $27.20, 42% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 4.60% higher over the past week, respectively.

Keywords: rebounders range resources

Ticker(s): RRC