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SmarTrend Watching for Potential Pullback in Shares of Anadarko Petrole After 1.15% Gain

By Amy Schwartz

Anadarko Petrole (NYSE:APC) traded in a range yesterday that spanned from a low of $63.35 to a high of $64.21. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $63.81 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Anadarko Petrole share prices have been bracketed by a low of $39.96 and a high of $73.33 and are now at $64.07, 60% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Anadarko Petrole on March 22nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.80. Since that recommendation, shares of Anadarko Petrole have risen 4.4%. We continue to monitor APC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders anadarko petrole

Ticker(s): APC