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SmarTrend Watching for Potential Pullback in Shares of Helmerich & Payn After 2.22% Gain

By James Quinn

Helmerich & Payn (NYSE:HP) traded in a range yesterday that spanned from a low of $43.22 to a high of $44.33. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $43.19 on volume of 813,000 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 Helmerich & Payn on July 28th, 2017 by issuing a Downtrend alert when the shares were trading at $52.40. Since that call, shares of Helmerich & Payn have fallen 17.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Helmerich & Payn have traded between a low of $42.16 and a high of $85.78 and are now at $43.94, which is 4% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

Keywords: rebounders helmerich & payn

Ticker(s): HP