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SmarTrend Watching for Potential Pullback in Shares of Newfield Exploration After 4.54% Gain

By David Diaz

Newfield Exploration (NYSE:NFX) traded in a range yesterday that spanned from a low of $43.10 to a high of $44.53. Yesterday, the shares gained 4.5%, which took the trading range above the 3-day high of $43.50 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Newfield Exploration share prices have moved between a 52-week high of $47.56 and a 52-week low of $20.84 and are now trading 113% above that low price at $44.47 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 3.1%.

SmarTrend is monitoring the recent change of momentum in Newfield Exploration. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newfield Exploration in search of a potential trend change.

Keywords: rebounders Newfield Exploration

Ticker(s): NFX