SmarTrend Watching for Potential Pullback in Shares of Nordic American Tanker Shipping After 1.77% Gain
Nordic American Tanker Shipping (NYSE:NAT) traded in a range yesterday that spanned from a low of $14.80 to a high of $15.05. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $14.94 on volume of 728,000 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, shares of Nordic American Tanker Shipping have traded between a low of $9.94 and a high of $17.45 and are now at $15.02, which is 51% above that low price. The 200-day and 50-day moving averages have moved 0.19% lower and 1.25% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Nordic American Tanker Shipping. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nordic American Tanker Shipping in search of a potential trend change.
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