• Return to Headlines

RPC Set to Possibly Rebound After Yesterday's Selloff of 1.50%

By Amy Schwartz

RPC (NYSE:RES) traded in a range yesterday that spanned from a low of $17.80 to a high of $18.15. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $18.17 on volume of 976,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of RPC have traded between a low of $8.45 and a high of $23.36 and are now at $18.00, which is 113% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of RPC on February 24th, 2017 by issuing a Downtrend alert when the shares were trading at $19.63. Since that call, shares of RPC have fallen 6.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders

Ticker(s): RES RPC