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Kodiak Oil & Gas Rises 5.68% on Heavy Volume: Watch For Potential Pullback
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Kodiak Oil & Gas (NYSE:KOG) traded in a range yesterday that spanned from a low of $9.22 to a high of $9.75. Yesterday, the shares gained 5.7%, which took the trading range above the 3-day high of $9.67 on volume of 16.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Kodiak Oil & Gas share prices have been bracketed by a low of $3.59 and a high of $10.41 and are now at $9.68, 170% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.
SmarTrend recommended that subscribers consider buying shares of Kodiak Oil & Gas on October 17th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.60. Since that recommendation, shares of Kodiak Oil & Gas have risen 63.5%. We continue to monitor KOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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