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SmarTrend Watching for Potential Rebound in Shares of Contl Res Inc/Ok After 1.68% Loss

By James Quinn

Contl Res Inc/Ok (NYSE:CLR) traded in a range yesterday that spanned from a low of $60.54 to a high of $62.55. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $60.91 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Contl Res Inc/Ok share prices have been bracketed by a low of $29.73 and a high of $69.91 and are now at $60.75, 104% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Contl Res Inc/Ok on May 25th, 2018 by issuing a Downtrend alert when the shares were trading at $64.03. Since that call, shares of Contl Res Inc/Ok have fallen 3.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders contl res inc/ok

Ticker(s): CLR