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

By Nick Russo

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.

Range Resources share prices have moved between a 52-week high of $65.53 and a 52-week low of $19.21 and are now trading 42% above that low price at $27.20 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

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.

Keywords: rebounders range resources

Ticker(s): RRC