SmarTrend Watching for Potential Rebound in Shares of SPDR S&P Oil & Gas Exploration & Production ETF After 3.19% Loss
SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $33.02 to a high of $33.88. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $33.79 on volume of 10.8 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, shares of SPDR S&P Oil & Gas Exploration & Production ETF have traded between a low of $22.06 and a high of $79.11 and are now at $33.06, which is 50% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 2.62% higher over the past week, respectively.
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