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Look for Shares of Murphy Oil Corp to Potentially Pullback after Yesterday's 3.56% Rise

By David Diaz

Murphy Oil Corp (NYSE:MUR) traded in a range yesterday that spanned from a low of $11.91 to a high of $12.53. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $11.91 on volume of 1.9 million 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, Murphy Oil Corp has traded in a range of $4.50 to $28.41 and is now at $12.22, 172% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.6% while the 200-day MA has slid 0.8%.

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

Keywords: rebounders murphy oil corp

Ticker(s): MUR