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SmarTrend Watching for Potential Pullback in Shares of Murphy Oil Corp After 4.22% Gain

By David Diaz

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $23.82 to a high of $24.48. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $23.95 on volume of 228,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Murphy Oil Corp share prices have moved between a 52-week high of $33.21 and a 52-week low of $17.04 and are now trading 43% above that low price at $24.45 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.

Keywords: rebounders murphy oil corp

Ticker(s): MUR