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Watch for Range Resources to Potentially Rebound After Falling 2.39% Yesterday

By David Diaz

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $4.37 to a high of $4.54. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $4.43 on volume of 4.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Range Resources has traded in a range of $3.26 to $12.14 and is now at $4.42, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Range Resources on December 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.47. Since that recommendation, shares of Range Resources have risen 3.0%. We continue to monitor RRC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders range resources

Ticker(s): RRC