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SmarTrend Watching for Potential Pullback in Shares of Ensco Plc-Cl A After 2.11% Gain

By James Quinn

Ensco Plc-Cl A (NYSE:ESV) traded in a range yesterday that spanned from a low of $6.82 to a high of $7.03. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $6.93 on volume of 7.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Ensco Plc-Cl A has traded in a range of $4.10 to $12.04 and is now at $7.00, 71% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that subscribers consider buying shares of Ensco Plc-Cl A on April 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.36. Since that recommendation, shares of Ensco Plc-Cl A have risen 28.3%. We continue to monitor ESV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ensco plc-cl a

Ticker(s): ESV