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SmarTrend Watching for Potential Rebound in Shares of Wpx Energy After 2.41% Loss

By Amy Schwartz

Wpx Energy (NYSE:WPX) traded in a range yesterday that spanned from a low of $10.49 to a high of $10.99. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $10.63 on volume of 3.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Wpx Energy has traded in a range of $9.89 to $20.80 and is now at $10.56, 7% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Wpx Energy on May 1st, 2019 by issuing a Downtrend alert when the shares were trading at $13.62. Since that call, shares of Wpx Energy have fallen 20.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders wpx energy

Ticker(s): WPX