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Watch for Noble Energy Inc to Potentially Pullback After Gaining 1.89% Yesterday

By Amy Schwartz

Noble Energy Inc (NYSE:NBL) traded in a range yesterday that spanned from a low of $28.21 to a high of $28.90. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $28.39 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Noble Energy Inc have traded between a low of $26.56 and a high of $42.03 and are now at $28.82, which is 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Noble Energy Inc on January 9th, 2017 by issuing a Downtrend alert when the shares were trading at $37.57. Since that call, shares of Noble Energy Inc have fallen 24.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders noble energy inc

Ticker(s): NBL