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Quicksilver Resources Rises 6.09% on Heavy Volume: Watch For Potential Pullback
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Quicksilver Resources (NYSE:KWK) traded in a range yesterday that spanned from a low of $5.16 to a high of $5.59. Yesterday, the shares gained 6.1%, which took the trading range above the 3-day high of $5.50 on volume of 5.7 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, shares of Quicksilver Resources have traded between a low of $4.14 and a high of $15.98 and are now at $5.49, which is 32% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 2.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Quicksilver Resources on December 19th, 2011 by issuing a Downtrend alert when the shares were trading at $6.56. Since that call, shares of Quicksilver Resources have fallen 21.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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