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Helmerich & Payne Set to Possibly Pullback After Yesterday's Rally of 3.02%
Dec 04, 2012 (SmarTrend(R) News Watch via COMTEX) --
Helmerich & Payne (NYSE:HP) traded in a range yesterday that spanned from a low of $52.42 to a high of $54.28. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $53.00 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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.
Over the past year, Helmerich & Payne has traded in a range of $38.71 to $68.60 and is now at $54.24, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.2%.
Write to Chip Brian at cbrian@mysmartrend.com
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