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SmarTrend Watching for Potential Pullback in Shares of Dril-Quip Inc After 5.45% Gain

By James Quinn

Dril-Quip Inc (NYSE:DRQ) traded in a range yesterday that spanned from a low of $53.38 to a high of $56.15. Yesterday, the shares gained 5.4%, which took the trading range above the 3-day high of $55.10 on volume of 331,000 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, Dril-Quip Inc share prices have been bracketed by a low of $35.85 and a high of $56.55 and are now at $56.05, 56% above that low price. The 200-day and 50-day moving averages have moved 0.44% higher and 1.92% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Dril-Quip Inc on May 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.13. Since that recommendation, shares of Dril-Quip Inc have risen 15.4%. We continue to monitor DRQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders dril-quip inc

Ticker(s): DRQ