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SmarTrend Watching for Potential Pullback in Shares of BP After 1.28% Gain

By Shiri Gupta

BP (NYSE:BP) traded in a range yesterday that spanned from a low of $35.88 to a high of $36.17. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $36.13 on volume of 2.1 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, shares of BP have traded between a low of $27.01 and a high of $43.85 and are now at $35.96, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.42% lower and 0.76% higher over the past week, respectively.

SmarTrend is tracking the current trend status for BP and will alert subscribers who have BP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders

Ticker(s): BP