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TMCNet:  Look for Shares of Helmerich & Payne to Potentially Pullback after Yesterday's 2.78% Rise

[October 12, 2012]

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 --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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