SPDR S&P Oil & Gas Exploration & Production ETF Set to Possibly Rebound After Yesterday's Selloff of 2.21%
SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) traded in a range yesterday that spanned from a low of $36.53 to a high of $37.51. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $36.95 on volume of 9.6 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 $36.81, which is 67% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of SPDR S&P Oil & Gas Exploration & Production ETF on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.86. Since that recommendation, shares of SPDR S&P Oil & Gas Exploration & Production ETF have risen 4.6%. We continue to monitor XOP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:xop spdr s&p oil & gas exploration & production etf