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Watch for Oasis Petroleum to Potentially Pullback After Gaining 2.22% Yesterday

By James Quinn

Oasis Petroleum (NYSE:OAS) traded in a range yesterday that spanned from a low of $11.78 to a high of $12.22. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $11.98 on volume of 4.6 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 Oasis Petroleum have traded between a low of $6.56 and a high of $17.08 and are now at $12.16, which is 85% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 4.3%.

SmarTrend recommended that subscribers consider buying shares of Oasis Petroleum on April 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.10. Since that recommendation, shares of Oasis Petroleum have risen 31.2%. We continue to monitor OAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders oasis petroleum

Ticker(s): OAS