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After Yesterday's Rally of 1.25% Shares Could Potentially Pullback

By James Quinn

Carrizo Oil&Gas (NASDAQ:CRZO) traded in a range yesterday that spanned from a low of $7.10 to a high of $7.31. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $7.21 on volume of 493,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Carrizo Oil&Gas has traded in a range of $6.15 to $18.20 and is now at $7.30, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Carrizo Oil&Gas on October 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $7.44. Since that call, shares of Carrizo Oil&Gas have fallen 3.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders carrizo oil&gas

Ticker(s): CRZO