• Return to Headlines

SmarTrend Watching for Potential Pullback in Shares of SPDR S&P Oil & Gas Exploration & Production ETF After 2.65% Gain

By James Quinn

SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $37.67 to a high of $38.48. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $38.36 on volume of 9.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SPDR S&P Oil & Gas Exploration & Production ETF share prices have moved between a 52-week high of $79.11 and a 52-week low of $22.06 and are now trading 74% above that low price at $38.37 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 2.6%.

SmarTrend is tracking the current trend status for SPDR S&P Oil & Gas Exploration & Production ETF and will alert subscribers who have XOP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amex:xop spdr s&p oil & gas exploration & production etf

Ticker(s): XOP