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SmarTrend Watching for Potential Pullback in Shares of Newfield Explora After 2.55% Gain

By Shiri Gupta

Newfield Explora (NYSE:NFX) traded in a range yesterday that spanned from a low of $26.69 to a high of $27.50. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $27.25 on volume of 780,000 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, Newfield Explora share prices have been bracketed by a low of $22.72 and a high of $35.20 and are now at $27.32, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Newfield Explora on July 25th, 2018 by issuing a Downtrend alert when the shares were trading at $28.00. Since that call, shares of Newfield Explora have fallen 4.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders newfield explora

Ticker(s): NFX