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Oasis Petroleum Rises 2.47% on Heavy Volume: Watch For Potential Pullback
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Oasis Petroleum (NYSE:OAS) traded in a range yesterday that spanned from a low of $30.29 to a high of $32.32. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $31.11 on volume of 3.2 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 monitoring the recent change of momentum in Oasis Petroleum . Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Oasis Petroleum in search of a potential trend change.
Over the past year, Oasis Petroleum has traded in a range of $17.99 to $36.15 and is now at $31.58, 76% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.
Write to Chip Brian at cbrian@mysmartrend.com
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