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SmarTrend Watching for Potential Rebound in Shares of Canadian Natural Resources After 2.78% Loss

By David Diaz

Canadian Natural Resources (NYSE:CNQ) traded in a range yesterday that spanned from a low of $29.46 to a high of $30.44. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $30.16 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Canadian Natural Resources share prices have moved between a 52-week high of $33.50 and a 52-week low of $14.60 and are now trading 103% above that low price at $29.67 per share. The 200-day and 50-day moving averages have moved 0.30% higher and 2.41% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Canadian Natural Resources and will alert subscribers who have CNQ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders canadian natural resources

Ticker(s): CNQ