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Watch for Newfield Explora to Potentially Pullback After Gaining 1.81% Yesterday

By David Diaz

Newfield Explora (NYSE:NFX) traded in a range yesterday that spanned from a low of $29.08 to a high of $29.67. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $29.13 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Newfield Explora share prices have moved between a 52-week high of $50.00 and a 52-week low of $22.72 and are now trading 30% above that low price at $29.56 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.4%.

SmarTrend is monitoring the recent change of momentum in Newfield Explora. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newfield Explora in search of a potential trend change.

Keywords: rebounders newfield explora

Ticker(s): NFX