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Helmerich & Payne Falls 3.16% on Heavy Volume: Watch For Potential Rebound
Mar 04, 2013 (SmarTrend(R) News Watch via COMTEX) --
Helmerich & Payne (NYSE:HP) traded in a range yesterday that spanned from a low of $63.45 to a high of $66.16. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $64.14 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Over the past year, Helmerich & Payne has traded in a range of $38.71 to $69.38 and is now at $63.97, 65% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.8%.
SmarTrend is monitoring the recent change of momentum in Helmerich & Payne. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Helmerich & Payne in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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