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Range Resources Set to Possibly Rebound After Yesterday's Selloff of 2.39%

By Nick Russo

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $4.37 to a high of $4.54. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $4.43 on volume of 4.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Range Resources on December 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.47. Since that recommendation, shares of Range Resources have risen 3.0%. We continue to monitor RRC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Range Resources share prices have moved between a 52-week high of $12.14 and a 52-week low of $3.26 and are now trading 35% above that low price at $4.42 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.6%.

Keywords: rebounders range resources

Ticker(s): RRC