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SmarTrend Watching for Potential Rebound in Shares of Continental Resources After 1.70% Loss

By Amy Schwartz

Continental Resources (NYSE:CLR) traded in a range yesterday that spanned from a low of $32.30 to a high of $33.20. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $32.53 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Continental Resources on December 13th, 2016 by issuing a Downtrend alert when the shares were trading at $53.05. Since that call, shares of Continental Resources have fallen 37.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Continental Resources share prices have been bracketed by a low of $13.94 and a high of $60.30 and are now at $32.50, 133% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 5.18% higher over the past week, respectively.

Keywords: rebounders Continental Resources

Ticker(s): CLR