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SmarTrend Watching for Potential Pullback in Shares of Contl Res Inc/Ok After 2.38% Gain

By David Diaz

Contl Res Inc/Ok (NYSE:CLR) traded in a range yesterday that spanned from a low of $41.79 to a high of $42.41. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $41.90 on volume of 648,000 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, Contl Res Inc/Ok share prices have been bracketed by a low of $34.61 and a high of $71.95 and are now at $41.86, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.1%.

SmarTrend is tracking the current trend status for Contl Res Inc/Ok and will alert subscribers who have CLR in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders contl res inc/ok

Ticker(s): CLR