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After Yesterday's Rally of 5.57% Shares Could Potentially Pullback

By Shiri Gupta

Conocophillips (NYSE:COP) traded in a range yesterday that spanned from a low of $35.37 to a high of $36.61. Yesterday, the shares gained 5.6%, which took the trading range above the 3-day high of $35.67 on volume of 4.7 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 Conocophillips have traded between a low of $20.84 and a high of $67.42 and are now at $37.05, which is 78% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.5%.

SmarTrend is tracking the current trend status for Conocophillips and will alert subscribers who have COP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ConocoPhillips

Ticker(s): COP