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SmarTrend Watching for Potential Pullback in Shares of Anadarko Petroleum After 2.63% Gain

By David Diaz

Anadarko Petroleum (NYSE:APC) traded in a range yesterday that spanned from a low of $52.53 to a high of $53.59. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $52.54 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Anadarko Petroleum on February 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $66.24. Since that call, shares of Anadarko Petroleum have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Anadarko Petroleum share prices have been bracketed by a low of $28.16 and a high of $95.75 and are now at $53.48, 90% above that low price. The 200-day and 50-day moving averages have moved 0.89% lower and 2.22% higher over the past week, respectively.

Keywords: rebounders Anadarko Petroleum

Ticker(s): APC