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Look for Shares of Helmerich & Payne to Potentially Pullback after Yesterday's 2.78% Rise
Oct 12, 2012 (SmarTrend(R) News Watch via COMTEX) --
Helmerich & Payne (NYSE:HP) traded in a range yesterday that spanned from a low of $47.71 to a high of $49.90. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $49.11 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, Helmerich & Payne has traded in a range of $38.71 to $68.60 and is now at $49.60, 28% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.
SmarTrend is tracking the current trend status for Helmerich & Payne and will alert subscribers who have HP in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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